The SOL/BTC ratio has experienced a bullish breakout after a prolonged period of triangular consolidation, indicating a potential sustained uptrend. The Moving average convergence/divergence (MACD) histogram also suggests a renewed bullish momentum. Solana-based decentralized exchanges have achieved record weekly trading volumes, surpassing the combined activity on Ethereum, Base, and BSC. This surge in trading volumes supports the bullish outlook for SOL. Despite being cheaper than Ethereum, Solana continues to generate substantial fee revenue and is competing with its rivals.



Other News from Today