SOL (Solana) has pumped 4.91% in the last 24 hours.

Gate News Bot news, September 3rd, according to CoinMarketCap data, as of the time of writing, SOL (Solana) is currently priced at 207.86 dollars, with a 4.91% pump in the last 24 hours, reaching a high of 217.84 dollars and a low of 194.38 dollars. The 24-hour volume has reached 8.932 billion dollars. The current market capitalization is approximately 112.461 billion dollars, which is an increase of 5.259 billion dollars compared to yesterday.

Solana is a fast, secure, and decentralized blockchain that provides powerful tools for developers and a quick experience for all users. It supports a variety of application scenarios ranging from advanced users to new consumers. Solana boasts fast transaction speeds, low fees, and high energy efficiency, with each transaction consuming only a fraction of the energy required for a Google search. The network is secured by thousands of independently operating validator nodes that ensure data safety and censorship resistance. Solana is designed for mass adoption and has become the fastest-growing ecosystem for new developers.

Important news about SOL recently:

1️⃣ Solana chain on-chain trading activity soars

The monthly trading volume on the Solana chain DEX has surpassed 144 billion USD, returning to the levels of May 2024. Among them, Raydium Protocol, Orca, and HumidFi contributed over 41 billion, 23 billion, and 22 billion USD in trading volume, respectively. This indicates a significant increase in user activity and trading demand within the Solana ecosystem, providing strong support for the rise in SOL prices.

2️⃣ Institutional investors continue to increase their holdings of SOL

The US-listed company DeFi Development Corporation announced an increase of 407,247 SOL, bringing its total holdings to 1,831,011 SOL (approximately $371 million). Another NASDAQ-listed company, Sharps Technology, has surpassed 2 million SOL in holdings, currently valued at over $400 million. The continued entry of institutional investors reflects confidence in the long-term development of Solana, which helps stabilize the price of SOL.

3️⃣ Solana network performance significantly improved

The Solana community has improved the network finality time to 125 milliseconds through the SIMD-0326: Alpenglow proposal, marking a significant enhancement in Solana's network performance. This upgrade will further enhance Solana's transaction processing capabilities and user experience, laying the foundation for more applications and users to connect.

From a technical perspective, after the SOL price broke through the $200 level, it continued to rise, and in the short term, it is expected to challenge the $220 resistance level. However, considering the potential profit-taking pressure after the rapid rise, investors need to closely monitor the volume changes and potential adjustment risks.

This message is not intended as investment advice; investors should be aware of market volatility risks.