The price of Solana had been rising, with the coin trading far beyond the $100 mark.
During the time of writing, Solana (SOL) was worth $107.82. The restoration of this cryptocurrency occurred shortly after Phantom, Solana’s native wallet, completed a profitable funding campaign. It has been hovering around the oversold territory recently, as even the cryptocurrency industry has seen a significant drop.
The bullish have returned, and the analytical view around the period of publication showed a favorable shift. In the last 24 hours, it has climbed by around 17%.
Road Map of Solana
SOL has been hovering in the range of $84.43 and $102.27 over the last week. The latest bullish impetus prompted values to eventually break through the $102.27 barrier level.
Because of Solana’s pricing, the purchasers drive the industry’s price trend. There are some signals or markers that flashed a buying opportunity for the coin, as per the technical indicators. SOL’s transaction volumes also saw a significant spike, indicating greater purchasing demand in the marketplace.
On its website, Phantom announced a $109 million Series B funding round and the creation of an iOS Phantom app. Spectrum spearheaded the Series B fundraising round. When Andreessen Horowitz closed on Phantom’s Series A funding round, it collected $9 million and $1.2 million for its Series B funding round.
Solana appears to be planning to expand by incorporating Web3 into its blockchain and introducing multi-chain capabilities. Shareholders have benefited from Phantom’s achievement. Several network issues have plagued, including outages and overcrowding.
In the past several months, Solana has been subjected to four DDoS attacks. Its shareholders may acquire greater trust in assisting the company to expand as a result of Phantom’s participation.
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