Decentralized Applications (DAPPs) built on Solana have already beaten everything else when it comes to blockchain weekly revenue. Data shows that Solana is one of the top daps in terms of millions of dollars a week. This increase in revenue highlights the fact that Solana is gradually gaining leadership position in the Decentralized Financial (DEFI) industry.
As Solana’s most popular DAPP, Pump.Fun generates over 10.45 million in weekly revenue. Next comes the axioms of over 8.64 million, followed by 3.58 million phantom wallets. These figures indicate that the Solana ecosystem is thriving. The number of users and developers is important across the network.
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Solana Derivatives hit $1.6 billion as analysts predict breakouts
The analytics platform Coinglass shows a sharp increase in the Solana Derivatives market. Derivative trading volume rose 90.03% to $16.42 billion. Open interest also rose 6.45% to $6.72 billion. There is a Soloi weighted funding rate of 0.0079%. This data shows an increase in profits for traders.
Source: Coinglass
Market analysts are monitoring Solana’s price transfer. Analyst World of Chart highlighted Solana’s trading in the bullish Pennant region. Analysts expect the pennant to move towards resistance levels at 185. Close prices above the $185 mark every day could potentially raise Solana prices to the $250 level in the near future.
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Solana builds strength for big movements
According to technical indicators, Solana may be planning a new rally. Existing consolidation rounds can cause significant price shifts. If Solana can surpass the resistance point, she will be able to gain more positions.
Solana has shown strong revenue growth and strengthened its image due to increased DAPPS and derivative activity. More and more users and developers are adopting a network. This development will help Solana establish new benchmarks in the blockchain sector.
High DAPP revenue, coupled with trading growth, is a positive indicator. The Solana ecosystem is expanding and is increasing its market presence.
As far as blockchain and derivatives trading revenues are concerned, Solana is leading the DAPP industry. It has solid basics and bullish technical drawings, so the network becomes a key player in the cryptocurrency field. Everyone is staring at Solana, but that’s an important price range.
Related: Sec’s latest actions on SolanaETF reflect the “final stage” of approval
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