Derivative data suggests that Solana has hit a short-term high
Solana (SOL) hit an all-time high of $ 216 on September 9, after rising 508% since August. The bull run led some analysts to forecast a $ 500 goal which would correspond to a market capitalization of $ 150 billion.
It’s worth noting that the network’s average transaction fee exceeded $ 40 during the SOL rally. Growing interest in the NFT market accelerated the transition of investors to Solana, which through Launch of FTX’s NFT marketplace on September 6th.
Solana, Avalanche and Cosmos prizes at Binance. Source: TradingViewSolana Futures aggregated open interest. Source: Bybt.com Solana Perpetual Futures 8 Hour Financing Rate. Source: Bybt.com
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