SOLANA

Sales Pressure at Solana The selling pressure seen on SOL caused Solana to fall below $100 before spending a few hours on pre-holiday prices, and then SOL continued to trade just above $101. According to TradingView data, at the time of writing, the SOL is trading above $106 and continues to trade about 11% below its annual high of $123, seen on December 26. In this process, the 9% increase in the BNB price enabled the Binance-linked token to regain its position as the fourth largest cryptocurrency by market capitalization. Trading at $ 319 at the time of writing, BNB is only a few steps ahead of Solana by market capitalization. The most important factors that ignited the fuse in the rally on the Solana front were the incredible rises experienced in Solana-based memecoin projects. November December 22nd to Dec 22nd, the price of BONK increased by 650%, while the price of Dogwifhat (WIF)managed to attract everyone's attention with a 123.000% increase. In the process, both memecoin projects retreated by more than 50% after seeing all-time highs, and each began to decline three days before Solana reached the highest level of the year on December 26. Solana and Ethereum Rivalry In parallel with the large increases in the Solana price, there has also been an increase in trading activities in the Solana ecosystem, and the trading volumes seen on SOL-based decentralized exchanges (DEXs) have exceeded the volume of the Ethereum ecosystem for the first time. According to data from the blockchain data analysis platform fashion show, the volume of Solana DEX continues to retreat after the record, and the volume has fallen to $ 1.1 billion in the last 24 hours. In this process, the DEX volume in the Ethereum ecosystem has reached $ 2 billion. Along with these developments, Ethereum has also recently managed to achieve a weekly gain of 5%, leading many investors and analysts to make predictions that Ethereum may soon start to outperform its competitors.