Derivatives data suggests Solana has reached a short-term top By Cointelegraph
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Derivatives data suggests Solana has reached a short-term top Solana (SOL) reached a $216 all-time high on Sept. 9 after rallying 508% since Aug. The bull run caused some analysts to project a $500 target which would translate to a $150 billion market capitalization.
It is worth noting that during SOL’s rally, the network’s average transaction fee had surpassed $40. Surging interest in the NFT market accelerated investors’ transition to Solana, which was boosted by FTX’s NFT marketplace launch on Sept. 6.
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