COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Solana’s Current Status and Market Movements
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Solana (SOL) > Solana’s Current Status and Market Movements
Solana (SOL)

Solana’s Current Status and Market Movements

In Brief

  • Spot Bitcoin ETF trading continues, market shows short-term decline.

  • Solana (SOL) sees a 5% drop since early 2024, despite recent activity.

  • New Solana smartphone announcement may boost SOL and BONK token prices.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

Spot Bitcoin (BTC) ETF trading has continued unabated since last week. Despite an initial surge on the first day, the short-term market outlook disappointed participants’ expectations. According to 21milyon.com data, the global crypto market experienced a 1.1% decline over the week. As a result, the market volume of BTC fell below the $850 billion level due to the drop in Bitcoin’s value. On the other hand, Solana (SOL), the star of the last quarter of 2023, has seen a 5% decline since the beginning of 2024.

Contents
Solana’s Latest DevelopmentsComments and History of Solana

Solana’s Latest Developments

Despite the decline since the beginning of the year, SOL has seen renewed activity in the last 24 hours, and the market cap of the fifth-largest asset increased by more than 4%. During this period, SOL’s 24-hour trading volume also increased by approximately 25%, indicating a significant increase in demand for the coin in the market.

This price increase may be connected to the announcement made by Solana about the launch of its second smartphone after Saga. The new mobile phone is planned to be cheaper than the previous Saga, with deliveries expected in the first half of 2025.

With the upcoming new phone, Solana may be aiming to recreate the impact seen in Saga mobile sales supported by last year’s BONK token airdrop.

BONK, like SOL, completed 2023 as one of the year’s biggest winners with an unrealistic 944% price increase. This surge was triggered by the 30 million BONK airdrop that came with every Saga device.

Interestingly, the value of the BONK tokens distributed in the airdrop exceeded the cost of the mobile phone. Alongside the increase in SOL’s price, BONK also rose by 1.33% in the last 24 hours, likely in response to the announcement.

Comments and History of Solana

Despite moving away from its spectacular performance at the end of last year and showing an average appearance in the spot market, the inflow of hot money into the derivatives market for SOL continued. According to data provided by Santiment, Open Interest (OI) saw an 8% increase throughout the week.

On the other hand, the Funding Rate on Binance, which leads the list in terms of volume, remained positive, indicating the dominance of traders leaning towards long positions.

Looking back at Solana, the cryptocurrency started its journey in 2023 at the $10 level and made one of the biggest comebacks in crypto history, rising above the $100 level again. The recovery in the altcoin, which was thought to be doomed after the FTX incident, brought relief to crypto investors.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Jupiter Launches Innovative Lending Protocol on Solana Blockchain

Pantera Capital Embraces Dynamic Crypto Investment Model on Solana

Kraken’s New Service Empowers Global Investors with Tokenized U.S. Stocks

Solana Coin Races Toward $200 Milestone with Momentum Building

Solana Overhauls System for Unprecedented Speed Boost

COINTURK NEWS 17 January, 2024 - 7:46 pm 17 January, 2024 - 7:46 pm
Share This Article
Facebook Twitter
Share
Previous Article BNB Foundation Announces Successful Completion of 26th Quarterly BNB Token Burn
Next Article Critical Court Hearing for Coinbase and SEC
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Experience Enhanced Functionality with XRPL’s New Batch Feature
Ripple (XRP)
Engage with the Bitcoin 2025 Conference in Las Vegas!
Bitcoin (BTC) Cryptocurrency News
Polygon Faces Leadership Shift as Co-Founder Mihailo Bjelic Exits
Polygon (MATIC)
Bitcoin Price Spike Creates Waves in Cryptocurrency Market
Cryptocurrency News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?