The Solana price popped sharply on Wednesday after the network gained more integrations. The SOL token rose to a high of $125, which was the highest point since January 2022. It has surged by more than 63% from its lowest level this year, bringing its total market cap to over $39.9 billion.
Solana has been in a strong bullish trend as the alt season continues. This trend mirror’s the performance of other cryptocurrencies.
The main reason why the SOL price is pumping after Opera announced that it will add a cryptocurrency wallet. This wallet will work in both its mobile and desktop versions. Other projects that will join the project are Polygon, Ronin, IXO, and Bitcoin. In a statement, the company said:
“Providing environmentally conscious solutions for our users is a key mission for Opera and moving activity on to layer 2 goes a long way to minimizing users' carbon footprint.”
Other browsers have integrated crypto wallets in their platforms. The best known is Brave, the browser that rewards its users using its Basic Attention Token (BAT). Opera has over 400 million users globally.
Solana price is also rising after WisdomTree announced that it was expanding its cryptocurrency products in Europe. These funds will be backed by Solana, Cardano, and Polkadot.
Meanwhile, activity in its network is rising. In its website, it has helped to handle over 66 billion transactions. The average cost of these transactions is $0.00025 while the transactions per second has risen to 2,400.
According to DeFi Llama, the Solana marketplace has a TVL of over $7.8 billion. This makes it the 5th biggest platform in the world after Ethereum, Terra, BNB Chain, and Avalanche.
Solana price prediction
The SOL price has been rising sharply in the past few days. This happened after it formed an important support level at $77.80. It has now crossed the important 25-day and 50-day moving average while the MACD has moved above the neutral level.
Therefore, there is a likelihood that the Solana price will likely keep rising as bulls target the next key resistance level at $15.