Solana Market Cap Hits Record Above $129B as SOL Surges Past $240
The post Solana Market Cap Hits Record Above $129B as SOL Surges Past $240 appeared on BitcoinEthereumNews.com. Solana has set another historic milestone. The blockchain’s native token, $SOL, soared past the $240 mark today, pushing its market cap to an all-time high above $129 billion. The surge lifted Solana past Binance Coin ($BNB) to become the fifth largest cryptocurrency by market value, according to CoinMarketCap. The rally didn’t come without drama. Over $61 million in short positions were liquidated in the past 24 hours as SOL ripped higher, shaking out bears who bet against the token’s momentum DeFi Boom Fuels Growth Beyond price action, Solana’s DeFi ecosystem continues to post explosive growth. Total Value Locked (TVL) has climbed to $13.03 billion, marking a 5.6% increase in the past 24 hours. The surge has been led by three protocols dominating Solana’s DeFi scene: Jupiter Exchange: $3.62B TVL (+23.5% MoM) Jito: $3.56B (+15.1% MoM) Kamino Finance: $3.37B (+6.1% MoM) Daily volumes have also been roaring. Solana decentralized exchanges (DEXs) processed $4.43B in trades in the past 24 hours, while daily active addresses held firm at 2.59M Futures Market Heats Up Demand for Solana is also spilling into derivatives. CME futures open interest surged to $1.87 billion today, climbing 25.5% in just three days from $1.49B on September 9. This spike comes as traders bet on a potential Solana spot ETF approval in October. The move also reflects growing treasury accumulation of SOL, further tightening supply. Solana Apps Outpace Ethereum In a surprising twist, Solana apps are now generating more than double the revenue of Ethereum apps. Over the past 30 days, $SOL-based apps brought in $207 million, compared to just $90 million on Ethereum This revenue gap highlights Solana’s rising dominance in real usage, not just speculation. Galaxy Digital Bets Big One of the strongest signals of institutional conviction came from Galaxy Digital. In the past 24 hours, Galaxy…
The post Solana Market Cap Hits Record Above $129B as SOL Surges Past $240 appeared on BitcoinEthereumNews.com.
Solana has set another historic milestone. The blockchain’s native token, $SOL, soared past the $240 mark today, pushing its market cap to an all-time high above $129 billion. The surge lifted Solana past Binance Coin ($BNB) to become the fifth largest cryptocurrency by market value, according to CoinMarketCap. The rally didn’t come without drama. Over $61 million in short positions were liquidated in the past 24 hours as SOL ripped higher, shaking out bears who bet against the token’s momentum DeFi Boom Fuels Growth Beyond price action, Solana’s DeFi ecosystem continues to post explosive growth. Total Value Locked (TVL) has climbed to $13.03 billion, marking a 5.6% increase in the past 24 hours. The surge has been led by three protocols dominating Solana’s DeFi scene: Jupiter Exchange: $3.62B TVL (+23.5% MoM) Jito: $3.56B (+15.1% MoM) Kamino Finance: $3.37B (+6.1% MoM) Daily volumes have also been roaring. Solana decentralized exchanges (DEXs) processed $4.43B in trades in the past 24 hours, while daily active addresses held firm at 2.59M Futures Market Heats Up Demand for Solana is also spilling into derivatives. CME futures open interest surged to $1.87 billion today, climbing 25.5% in just three days from $1.49B on September 9. This spike comes as traders bet on a potential Solana spot ETF approval in October. The move also reflects growing treasury accumulation of SOL, further tightening supply. Solana Apps Outpace Ethereum In a surprising twist, Solana apps are now generating more than double the revenue of Ethereum apps. Over the past 30 days, $SOL-based apps brought in $207 million, compared to just $90 million on Ethereum This revenue gap highlights Solana’s rising dominance in real usage, not just speculation. Galaxy Digital Bets Big One of the strongest signals of institutional conviction came from Galaxy Digital. In the past 24 hours, Galaxy…
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