The ecosystem of digital currencies is currently seeing a sharp negative shift, with the total market value falling by 1.73% to $1.16 trillion. Solana is seeing comparatively stronger price increase in the midst of these negative sell-offs, especially when compared to its competitors over the previous seven days.
The price of the virtual currency is $21.95, down 1.17% from the previous day. Since Solana broke through the $20 price resistance on April 10, the bulls have held the line and stopped a new downward spiral below this price.
What is taking place in the Solana ecosystem that is promoting a protocol that has sustained 4.78% growth over the previous week is still a mystery. A look around the Solana ecosystem reveals that Saga’s release is still the topic of conversation for the time being.
The Solana blockchain is becoming more appealing as more consumers preorder the mobile phone and new services are being added. The faith of present holders to HODL their bags is also being fueled by this upbeat feeling, which is driving a renewed buy-up.
Encompassing and diversified growth
Due to its design model, Solana’s growth is noticeably more integrated. As previously reported by U.Today, Phantom Wallet, one of the most well-known decentralised wallet programmes on Solana, has expanded support for Polygon and Ethereum in an effort to provide its core customers with more capabilities.
The performance update that Solana provided and published last week may also be used to demonstrate its growth. The generated fees for the virtual currency increased significantly in the first quarter, increasing by more than 65%.
Solana’s excellent price stability is further attested to by the users of Liquid Staking Derivatives (LSD) and consumers who have embraced it.
