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Solana price hits a 2023 high, but do strong fundamentals back the SOL rally?

Published 07/14/2023, 12:28 PM
Updated 07/15/2023, 03:00 PM
© Reuters
XRP/USD
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SOL/BTC
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SOL/USD
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Solana’s (SOL) price briefly surged to a new year-to-date peak on June 14 after Ripple’s partial win against the United States Securities Exchange and Commission in the case contesting XRP’s (XRP) position as a security.

The token recorded gains of 48.09%, reaching a peak of $32.40 as news of the court ruling spread, before retracing below the $30.00 level.

Total fees paid on Solana. Source: token terminal
The number of active wallets on Solana. Source: Nansen
The top blockchain by NFT trading volumes in 30 days since June 14. Source: CryptoSlam
The top games by number of unique active users on Solana. Source: DappRadar
SOL/USD daily price chart. Source: TradingView
SOL/BTC weekly price chart. Source: TradingView
Funding rate for SOL perpetual swaps. Source: Coinglass

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