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HomeImmutableXSolana (SOL) Rose 40% In Daily Chart, Emerges As The Standout Performer...

Solana (SOL) Rose 40% In Daily Chart, Emerges As The Standout Performer Of The Weekend

Solana (SOL) has seen a significant increase in interest in the cryptocurrency market, seeing a massive 40% increase in its value on the daily chart in a short period of time.

despite the positive emotions With Bitcoin and Ethereum back above $21,000 and $1,600 respectively, Solana emerged as the standout performer as the weekend began.

🤯 Traders celebrate the resurgence of #Bitcoin (back above $21,000) and #Ethereum (back above $1,550), but #Solana is the real star as the weekend begins. $SOL, up +22% over the last two hours alone, is supported by liquidated short selling.

according to coin market capitalizationSolana is currently trading at $22.30, gaining 80% in value over the past week.

SOLUSDT 2023 01 14 16 18 25
Source: Coinmarketcap

Moreover, trading volume has seen a massive 200% increase in the last 24 hours, and its market capitalization has risen by 31.05% over the same period.

However, while the next resistance level remains at $24.40, a bearish breakout at $20.50 could open the door for a further drop to $15.50 levels.

Solana has bucked market pressure, with retail demand rebounding in recent weeks. The Solana network has seen a surge of activity due to the excitement surrounding the memetic currency, resulting in On-chain activity and trading volume.

The increase in the number of daily active users of the Solana network also growth Total Value Locked (TVL).

screenshot 2023 01 14 162110
Source: DefiLlama

Solana Game Moves to Ethereum Platform

According to January 13th, Tiny Colony, a web3 building and managing game, will debut on ImmutableX, the go-to platform for web3 games on Ethereum from web3 games giant Immutable. Press release.

Originally on the Solana blockchain, the game will be migrated to IMX to benefit from advanced scaling capabilities while maintaining the robust security and decentralization of Ethereum. A best-seller on digital marketplace Fractal, he had over 18,000 assets sold and generated $3 million in revenue before moving.

According to a press release, Tiny Colony will resume game development and receive professional technical support and consultation in partnership with Immutable. With ImmutableX, you get better gaming performance, better security, a built-in crypto wallet for new web3 gamers, fiat payments, and more.

Tiny Colony CEO Arshia Navabi expressed excitement about her partnership with ImmutableX, citing the company’s reputation for creating quality web3 games and supporting projects through its platform.

She added that the partnership will give Tiny Colony access to ImmutableX’s expert technical support, product development guidance, and long-term direction to continue developing the game.

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