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Learn From Smart Money: Derivatives Traders Show Optimism on SOL After a Fresh ATH

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Bybit 360

Nov 27, 2024

4 min read

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The price of SOL reached a new all-time high in mid-November 2024 as recent developments in the Solana ecosystem and support from its community strengthened the market's confidence in SOL's outlook. Some of the most actively traded tokens in the market, such as CHILLGUY, MUSTARD and FATHA, are all based in Solana’s strong community. Data from DefiLlama shows that the monthly trade volume of DEXs on Solana reached $100 billion for the first time in November 2024.

Figure 1: Monthly trade volume of DEXs on Solana. Source: DefiLlama