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In a recent post on X (formerly Twitter), Hayes shared a Binance price chart illustrating the movement of Solana’s native token SOL paired with the Tether stablecoin, USDT. Notably, the chart depicted Solana’s price entering a critical zone at $94.68. Hayes, urging investors to consider boarding the “Solana train,” pointed towards a prospective upswing in the cryptocurrency’s value.
Following the recent weekend collapse of several U.S. banks, Hayes advocated for a return to the Solana market. He speculated that a significant banking crisis could prompt the U.S. Federal Reserve to inject funds into the market, potentially catalyzing a broader crypto market rally, with Solana positioned to lead the bullish trend.
As of the latest update from CoinMarketCap, Solana is currently trading at $99.44, showcasing a gradual recovery after a notable decline in January. Hayes’ endorsement adds weight to the optimism surrounding Solana’s resurgence in the market.
Renowned for his accurate price predictions and steadfast support for Solana, Hayes made headlines in December 2023 when he opted to swap Solana for Ethereum, the second-largest cryptocurrency. However, with Solana’s recent surge beyond the $100 threshold and approaching its 2023 peak of over $125, the American entrepreneur is poised to re-enter the altcoin market, anticipating potential price surges.
A dedicated X account, Solana Floor, which provides real-time updates on Solana, recently highlighted a significant milestone for the cryptocurrency. Sharing a chart illustrating Solana’s dominance in Decentralized Exchange (DEX) volume over the last 24 hours, Solana Floor revealed that Solana has maintained its top position in DEX volume, surpassing even Ethereum.
Related: Solana Outpaces Ethereum and Tron in Stablecoin Transaction Volumes
Solana outperformed Ethereum by approximately $16 million, boasting a total volume of $1.149 billion, while Ethereum recorded a volume of $1.133 billion. Following closely, Bitcoin Cash secured the third position with a total volume of $397.56 million, and Arbitrium claimed the fourth spot with a volume of $248.29 million.
This accomplishment underscores Solana’s increasing prominence in the Decentralized Finance (DeFi) space and underscores its potential to emerge as one of the leading altcoins in the cryptocurrency industry.
