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Following Visa’s announcement to support Solana blockchain in stablecoin transactions, SOL has seen an increase in value despite the downward trend in the cryptocurrency market. According to CoinMarketCap (CMC) data, Solana (SOL) recorded an average value increase of 1.3% in the last 24 hours, surpassing the $20 level during the day.
Uncertainty Continues in the Market
While the leading cryptocurrency Bitcoin (BTC) has experienced slight value increases in the last 24 hours, most altcoins in the cryptocurrency market have suffered various levels of losses during the day. The total market capitalization of the cryptocurrency ecosystem reached $1.04 trillion, according to CMC data. Ethereum (ETH) started trading at around $1630 with its recent price movements.
On the other hand, Stellar (XLM), Casper (CSPR), Rocket Pool (RPL), and Maker (MKR) experienced significant value losses during the day. Additionally, the 24-hour trading volume of many high market cap cryptocurrencies also experienced varying degrees of decline.
However, despite the low volatility in the market, there were also cryptocurrencies that continued to rise during the day. Solana (SOL), which gained more than 1.3% in the last 24 hours, stood out positively from the market.
Current Situation of Solana (SOL)
Following Visa’s announcement to support Solana blockchain in stablecoin transactions, the native cryptocurrency of Solana blockchain, SOL, experienced a rapid increase in value. The Visa news led to Solana (SOL) diverging positively from the market, despite the cryptocurrency experiencing various levels of value losses in the last 24 hours.
According to CMC data, Solana (SOL) recorded an average value increase of 1.3% in the last 24 hours, surpassing the $20 level and reaching $20.5 in the evening. On the other hand, SOL started trading at around $19.8 with its recent price movements. Additionally, following the rise that started with the Visa announcement, SOL’s total market capitalization surpassed $8 billion once again.