Solana’s 22x hike from 2022’s low flips BNB – Is Ethereum next?

, the altcoin, which underpins one of the largest smart contract networks, increased by more than 10% in the last 24 hours. It reached $200 for the first time since October 2021.The increasing on-chain activity was likely boosting the coin’s value.As evident below, Solana’s weekly DEX volumes have been growing steadily over the past month, reaching an all-time high of $17.5 billion last week.Ethereum’s on-chain fees have declined in recent days, while Solana’s have increased.

Since the network burns a percentage of the fees earned in SOL, such high levels of network utilization indirectly aided the coin’s upward climb.One particular whale moved a whopping 200k SOL coins, worth $40 million at press time, to cryptocurrency exchange Binance over the past two days.Aniket is a full-time journalist at AMB Crypto. With experience in news publishing and content management, he is now increasingly tangled up in the web of cryptocurrencies and blockchains.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BNB Price Surges and Investors Expect MoreMarket indicators revealed that $550 was the next target. BNB showcased the best performance among the top five cryptos in the last 24 hours. As a result, the coin’s price exceeded $520. This sparked excitement among investors as expectations went up. As we begin this new week, should we expect BNB to touch $700 anytime soon?
Source: CryptoAmb - 🏆 22. / 68 Read more »

BNB rises 10%, but $500 may not be that easy to attainIn the last 24 hours, Binance Coin [BNB] proved why it was able to take back the 4th position per market from Solana [SOL]. At press time,
Source: CryptoAmb - 🏆 22. / 68 Read more »

BNB’s price took a hit, but THIS metric soared insteadBNB has defied the current market slump, surging by almost 20% in the past week.
Source: CryptoAmb - 🏆 22. / 68 Read more »