Solana (SOL) becomes the most traded altcoin in US exchanges this year. 

Solana (SOL) is witnessing a dramatic climb in trading volume, outshining other altcoins on exchanges accessible in the United States over the current year.

솔라나(SOL)는 올해 미국에서 접근 가능한 거래소의 다른 알트코인을 능가하는 극적인 거래량 증가를 목격하고 있습니다.

Leading exchange, Coinbase strategically increased its holdings by acquiring 2.2 million SOL tokens on Oct. 18. Since then, SOL is up by over 35%. In contrast, South Korea’s prominent exchange, Upbit, sold nearly 4 million SOL tokens.

What’s driving Solana (SOL)?

솔라나(SOL)의 원동력은 무엇인가요?

A surge in network activity, particularly within liquid staking token protocols such as Jito, has contributed partially to Solana’s price acceleration, according to the data from Kaiko Research. As a prominent alternative Layer 1 (alt L1) blockchain, Solana is frequently juxtaposed with Ethereum (ETH), and the recent months have seen Solana outshine its counterpart. The comparative ratio of SOL to ETH has escalated from 0.011 in September to approximately 0.025, surpassing pre-FTX crisis levels.

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Coinbase has spearheaded the net buying spree, with market purchases of Solana tokens since the rally’s inception. While Binance initially trailed, it soon ramped up market buying, reaching a cumulative volume delta (CVD) of 1.9 million since that date.

코인베이스는 랠리가 시작된 이래로 솔라나 토큰을 시장에서 구매하는 등 순매수 횡포를 주도해 왔습니다. 처음에는 바이낸스가 뒤처졌지만 곧 시장 구매를 늘려 해당 날짜 이후 누적 거래량 델타(CVD)가 190만 개에 도달했습니다.

In the broader context, SOL has outperformed other popular altcoins such as Dogecoin (DOGE), Litecoin (LTC), Polygon (MATIC) and Ripple (XRP) in trading volumes across exchanges available in the U.S., securing its position as this year’s favored alternative digital asset among U.S. traders.

SOL is up by nearly 75% in a month. 

Read more: Analyst points to Coinbase’s future after disappointing quarter

더 읽어보기: 분석가는 실망스러운 분기 이후 Coinbase의 미래를 지적합니다.