Solana Outgains Bitcoin, Ethereum After DeFi Development Bags $77 Million In SOL For Corporate Reserves
Solana (CRYPTO: SOL) outperformed cryptocurrencies with a larger market capitalization on Thursday, following millions in purchases by treasury company DeFi Development Corp. (NASDAQ:DFDV).
DFDV is moving ahead with momentum. See what is driving the move here.
Solana Breaks Key Resistance
SOL was up nearly 4%, gaining the most among large-cap cryptocurrencies in the last 24 hours. In contrast, Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) fell 0.13% and 0.91%, respectively.
The sixth-largest cryptocurrency by capitalization broke past its price resistance from February to a high of $216.
The rally energized the derivatives market, with open interest in SOL futures jumping 10% to an all-time high of $13.96 billion, according to Coinglass.
See Also: Sharps Technology Soars After Insider Buys and $400M Solana Treasury Plan
New …
About The Author
