bullish

Solana

Coin

Divergence

<p>Solana crypto’s LST market cap has reached a record $8.37B, with $jitoSOL leading the charge at $3.37B. </p> 
<p>Meanwhile, a new wallet has quickly amassed $15.36M in SOL, signaling strategic moves by investors ahead of potential market shifts. </p> 
<p>This coincides with Solana’s bullish divergence, hinting at a potential price rally.</p> 
<h2 class="wp-block-heading" id="h-liquid-staking-tokens-of-solana-crypto-hit-a-fresh-market-cap-of-8-37b"><strong>Liquid Staking Tokens of Solana Crypto Hit a Fresh Market Cap of $8.37B</strong></h2> 
<p>As of December 12, 2024, Solana’s Liquid Staking Tokens (LSTs) soared to an all-time high market cap of $8.37 billion.</p> 
<p>This spike shows a rising appetite among investors for Solana’s staking solutions. These let users earn rewards without sacrificing the liquidity of their tokens.</p> 
<p>Today, the LST market cap is 9.04% of Solana’s total market cap, and there’s clear adoption for these staking products.</p> 
<p>$jitoSOL is the leading LST on Solana crypto. It accounts for about 39.2% of the total LST market cap, or $3.37 billion of the total $8.4 billion. </p> 
<p>Next in fund distribution, $mSOL and $bnSOL, take up 14.8% ($1.27 billion) and 14.3% ($1.23 billion), respectively.</p> 
<div class="wp-block-image"> 
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  <img loading="lazy" decoding="async" width="584" height="589" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-246.png" alt="" class="wp-image-878150" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-246.png 584w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-246-297x300.png 297w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-246-150x151.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-246-300x303.png 300w" sizes="auto, (max-width: 584px) 100vw, 584px">
  <figcaption class="wp-element-caption">
   Source: x
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<p>As you can see, $jitoSOL dominates the Solana ecosystem. However, $mSOL and $bnSOL are also adding to growth in the liquid staking market.</p> 
<p>This fueled growth in the market cap of LST. Institutions and retail users are increasingly interested in the Solana ecosystem. </p> 
<p>These staking products are now being increasingly used by investors to earn rewards and preserve liquidity. This can be seen as reflective of confidence in the future of Solana.</p> 
<p>The hope is that it only increases the vitality of the <a href="https://www.thecoinrepublic.com/2024/12/09/solana-crypto-fluctuates-as-long-positions-on-sol-surge-whats-next/">Solana</a> ecosystem. More activity can bring more liquidity to the broader ecosystem, which in turn would accelerate its growth.</p> 
<h2 class="wp-block-heading" id="h-in-15-hours-new-wallet-accumulates-15-36m-in-sol-from-coinbase"><strong>In 15 hours, New Wallet Accumulates $15.36M in SOL from Coinbase</strong></h2> 
<p>In just 15 hours, a newly created wallet has already accumulated 67,162 SOL tokens, which equates to $15.36 million. It’s transferring SOL from Coinbase at an average price of $228.74 per token.</p> 
<p>These large transactions caught on Solscan identify major traffic in the market and a tactical step of the person who opened the wallet.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full is-resized">
  <img loading="lazy" decoding="async" width="596" height="298" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-247.png" alt="" class="wp-image-878155" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-247.png 596w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-247-300x150.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-247-150x75.png 150w" sizes="auto, (max-width: 596px) 100vw, 596px">
  <figcaption class="wp-element-caption">
   Source: x
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<p>This buildup indicates that the investor is taking a stake in Solana with an eye toward future price action. </p> 
<p>The investor may have bought a large number of the tokens and be waiting for them to go through multiple price increases and even have utility in the Solana network. </p> 
<p>It also shows how liquid the Solana market is as this rapid accumulation occurs.</p> 
<p>Whales in the wallet will often move around before prices move, and the activity could imply that institutions have interest in Solana crypto or a whale is paying attention to what’s to come for Solana.</p> 
<p>This signals increasing confidence in the network’s future, as more large investors move a huge amount of Solana tokens from exchanges to personal wallets. </p> 
<p>Similar movement in the past has caused prices to change, so its important to watch out for what the wallet is doing.</p> 
<h2 class="wp-block-heading" id="h-solana-displays-hidden-bullish-divergence-and-looks-imminent-to-start-a-price-rally"><strong>Solana Displays Hidden Bullish Divergence and Looks Imminent to Start a Price Rally</strong></h2> 
<p>On its daily chart, <a href="https://www.thecoinrepublic.com/2024/12/07/hopes-of-solana-etf-approvals-before-end-of-2024-crushed-network-activity-remains-strong/">Solana</a> crypto appears to be signaling a hidden bullish divergence, and this might continue to surge further. First, the low on the RSI is lower, and second, the price action has a higher low.</p> 
<p>When price becomes stable at a particular level, the momentum decreases and remains lower as long as the price won’t decline below that level, which is a typical behavior of a bullish trend.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full is-resized">
  <img loading="lazy" decoding="async" width="603" height="602" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-248.png" alt="" class="wp-image-878160" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-248.png 603w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-248-300x300.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-248-150x150.png 150w" sizes="auto, (max-width: 603px) 100vw, 603px">
  <figcaption class="wp-element-caption">
   Source: x
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 </figure>
</div> 
<p>A hidden bullish divergence, where the price printed a new lower low while the RSI made a new higher low.</p> 
<p>This is usually a bear market rally, signalling a momentum weakening and potential buying pressure down the line.</p> 
<p>Solana’s price can be pushed higher if the RSI strengthens and divergence plays out like it’s supposed to with the current technical setup.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/12/14/solana-crypto-lsts-surge-to-all-time-high-dominated-by-jitosol/">Solana Crypto LSTs Surge To All-Time High, Dominated By jitoSOL</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Solana Crypto LSTs Surge To All-Time High, Dominated By jitoSOL

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