The crypto market witnessed heightened volatility last week, with most coins observing steep declines.\u00a0However, today, June 27, the market has registered a slight recovery as most coins posted a few gains, but SOL\u2019s gain is the most notable among all.\u00a0<\/p>\n
Solana\u2019s native token, SOL, recorded over 3% price growth over the past 24 hours, while others, like Bitcoin, barely crossed 1%, given the significant increase. The Ethereum killer is now number 9 among the top-gaining coins<\/a> today. However, considering the steep volatility index, whether SOL bulls can sustain today\u2019s rally remains uncertain.<\/p>\n Solana saw bearish days in June after the SEC listed it among tokens labeled as securities in its lawsuit against Binance and Coinbase.\u00a0SOL\u2019s price<\/a> nosedived, dropping over 41% between June 3 and June 16. The asset\u2019s price consolidated between $15 and $19 until July.\u00a0<\/p>\n Related Reading: Shibarium Bridge Goes Live In Beta But There\u2019s A Catch<\/a><\/p>\n However, SOL reached a monthly high of $29.31 on July 13 after news of Ripple\u2019s win<\/a> against the US SEC in the multi-year lawsuit circulated throughout the industry.\u00a0<\/p>\n Although the bearish momentum observed in the last seven days snatched some gains from the asset, its 30-day price movement remains bullish, with over 52% price growth.<\/p>\n Solana has lost 2.33% of its market valuation over the past seven days before rebounding with notable gains today. On Thurdsay morning, SOL traded at $25.25, with a 3.71% 24-hour price increase.<\/p>\n SOL\u2019s trading volume has increased in the last 24 hours. On July 26, SOL recorded a 57.07% increase in trading volume. This growth in trading activity suggests increased interest in SOL and SOL-related products.<\/p>\n Following Ripple\u2019s partial victory in the SEC\u2019s securities lawsuit, Solana-based investment products have received massive attention from investors. According to CCData\u2019s digital asset management review, Solana-based investment funds\u2019 assets under management (AUM) increased in July.<\/p>\n The report<\/a> showed that most of the boost happened on July 14, a day after Judge Torres ruled that XRP token sales on the secondary market are not investment contracts. Judge Torres\u2019 ruling acted as a point of reference to other assets, including SOL, marked as securities by the SEC.<\/p>\n CCData\u2019s report stated that the AUM for SOL-based investment products increased by 55.7% to $87.8 million in July. This observation could be attributed to SOL\u2019s impressive performance over the past month.<\/p>\n Solana DeFi Activity On Bullish Recovery<\/p>\n Regulatory uncertainty and the FTX fiasco affected the sentiment around Solana-based dApps, dipping further into the Solana DeFi ecosystem.\u00a0<\/p>\n DeFi Llama data<\/a> shows that Solana\u2019s total value Locked (TVL) crumbled from a peak of $9.66 billion in November 2021 to less than $300 million in 2023. But with the partial resolution and the heightened optimism for a clearer regulatory atmosphere, Solana DeFi\u2019s activities have improved.\u00a0<\/p>\n As of July 14, SOL TVL hit a yearly peak of approximately $1.1 billion before retracing to $313.9 million. A close look at the chart shows SOL TVL has witnessed a slight increase and now stands at $316 million.\u00a0<\/p>\n Chances that SOL will see a more bullish rebound following a total resolution of ongoing regulatory issues are high.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n The crypto market witnessed heightened volatility last week, with most coins observing steep declines.\u00a0However, today, June 27, the market has registered a slight recovery as most coins posted a few gains, but SOL\u2019s gain is the most notable among all.\u00a0<\/p>\n Solana\u2019s native token, SOL, recorded over 3% price growth over the past 24 hours, while others, like Bitcoin, barely crossed 1%, given the significant increase. The Ethereum killer is now number 9 among the top-gaining coins<\/a> today. However, considering the steep volatility index, whether SOL bulls can sustain today\u2019s rally remains uncertain.<\/p>\n Solana saw bearish days in June after the SEC listed it among tokens labeled as securities in its lawsuit against Binance and Coinbase.\u00a0SOL\u2019s price<\/a> nosedived, dropping over 41% between June 3 and June 16. The asset\u2019s price consolidated between $15 and $19 until July.\u00a0<\/p>\n Related Reading: Shibarium Bridge Goes Live In Beta But There\u2019s A Catch<\/a><\/p>\n However, SOL reached a monthly high of $29.31 on July 13 after news of Ripple\u2019s win<\/a> against the US SEC in the multi-year lawsuit circulated throughout the industry.\u00a0<\/p>\n Although the bearish momentum observed in the last seven days snatched some gains from the asset, its 30-day price movement remains bullish, with over 52% price growth.<\/p>\n Solana has lost 2.33% of its market valuation over the past seven days before rebounding with notable gains today. On Thurdsay morning, SOL traded at $25.25, with a 3.71% 24-hour price increase.<\/p>\n SOL\u2019s trading volume has increased in the last 24 hours. On July 26, SOL recorded a 57.07% increase in trading volume. This growth in trading activity suggests increased interest in SOL and SOL-related products.<\/p>\n Following Ripple\u2019s partial victory in the SEC\u2019s securities lawsuit, Solana-based investment products have received massive attention from investors. According to CCData\u2019s digital asset management review, Solana-based investment funds\u2019 assets under management (AUM) increased in July.<\/p>\nSOL Price Outlook<\/h2>\n
SOL-Based Investment Funds Skyrockets Following Heightened Regulatory Optimism<\/h2>\n
SOL Price Outlook<\/h2>\n
SOL-Based Investment Funds Skyrockets Following Heightened Regulatory Optimism<\/h2>\n