SOL (Solana) has risen 3.65% in the last 24 hours.

Gate News Bot news, on September 9, according to CoinMarketCap data, as of the time of writing, SOL (Solana) is currently priced at $213.30, up 3.65% in 24 hours, with a high of $216.90 and a low of $199.64. The 24-hour volume reached $9.944 billion. The current market capitalization is approximately $115.611 billion, an increase of $4.072 billion compared to yesterday.

Solana is a high-performance blockchain platform that provides powerful tools for developers and a fast experience for users. It supports a wide range of application scenarios from advanced users to new consumers. The Solana ecosystem is rapidly developing, attracting numerous developers and institutions to join. Recently, the Solana mobile device Seeker has begun shipping, Franklin Templeton has expanded its funds to the Solana network, and Electric Capital reports that Solana is the fastest-growing ecosystem for new developers.

Important recent news about SOL:

1️⃣ Institutional investors continue to rise their SOL holdings The Nasdaq-listed company DeFi Dev Corp (DFDV) increased its holdings of 196,141 SOL at an average price of $202.76, bringing its total holdings to 2,027,817 SOL, valued at approximately $427 million. At the same time, the biosample procurement company iSpecimen Inc. plans to establish a $200 million digital asset fund to purchase SOL through over-the-counter trading. The continued entry of institutional investors reflects confidence in the long-term development of Solana, providing support for the price of SOL.

2️⃣ Galaxy Digital achieves equity tokenization Cryptocurrency financial services company Galaxy Digital announced the implementation of equity tokenization on the Solana blockchain, marking the first instance of a Nasdaq-listed company's stock being directly issued and traded on a public chain. This initiative introduces new use cases to the Solana ecosystem, showcasing its potential for financial innovation and is expected to attract more attention from traditional financial institutions.

3️⃣ The trading activity on the Solana chain continues to rise The monthly trading volume on the Solana chain DEX has exceeded $144 billion, returning to the levels seen in May 2024. Among them, Raydium Protocol, Orca, and HumidFi contributed over $41 billion, $23 billion, and $22 billion in trading volume, respectively. The increase in on-chain activity reflects user confidence in the Solana ecosystem, providing fundamental support for the rise in SOL prices.

From a technical perspective, the SOL price continued to rise after breaking through the 200 USD level, and it is expected to challenge the 220 USD resistance level in the short term. However, considering the potential profit-taking pressure that may arise after a rapid rise, investors need to closely monitor changes in volume and potential adjustment risks.

This message is not intended as investment advice; investors should pay attention to market volatility risks.