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Solana’s network reaches an all-time high with 51.63 million daily transactions

Solana's network reaches an all-time high with 51.63 million daily transactions

Solana (SOL) has made headlines by breaking a new daily transaction record, demonstrating strong interest in the crypto community.

Solana’s network reached an all-time high with 51.63 million daily transactions. This performance propelled Solana’s price to $59.58, resulting in a weekly gain of 1.53%.

Solana’s trading volume reached $1.2 billion, demonstrating its significant market presence. Despite a retracement, the overall outlook for Solana remains positive, with the coin currently trading in the $52.21-$59.48 range.

Analysts anticipate a retest of the $60 level in the coming weeks as the coin trades above the 50 and 200-day EMAs.

Meanwhile, Ethereum (ETH) has gained popularity due to bullish price forecasts. According to crypto analyst FieryTrading, Ethereum has formed a bullish triangle pattern after trading more than 50% below its peak of $4,800 for an extended period of time. This pattern has been in place for over a year and a half, with the low at $887 and the high just above $13,100.

According to the analyst, Ethereum needs to break out of this bullish triangle by crossing the $2,200 mark. If successful, this breakout could result in a significant increase, possibly reaching $4,800. Such a move would represent a stunning 130% increase over the current price.

Aside from the established players, a new meme coin is gaining traction in the crypto space. As the market evolves, these developments foreshadow an exciting period for crypto enthusiasts, with multiple assets displaying bullish momentum.

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