Over $1 billion inflows into Solana in a day

As the cryptocurrency market continues to trade sideways, the decentralized finance (DeFi) platform Solana (SOL) has emerged as one of the standout tokens. In this regard, SOL has experienced significant buying pressure in the last 24 hours. By press time, Solana controlled a market capitalization of $8.96 billion, reflecting an inflow of $1.02 billion within the last 24 hours. The buying pressure has also influenced the asset’s price trajectory, comfortably holding above the $20 support level. Currently, SOL is valued at $22.17, with daily gains of nearly 12%. On the weekly chart, Solana has seen an increase of over 20%. While Solana has generally moved in tandem with the overall market, the recent surge in asset price lacks a specific identifiable catalyst. However, it is worth noting that the asset’s gains align with significant network partnerships. One notable instance is the announcement of collaboration between Coca-Cola (NYSE: KO) in Serbia and Solana NFT platform SolSea for a non-fungible token (NFT) offering during a music event. As part of this deal, the beverage company will distribute 100 limited edition hoodies accompanied by NFTs to select participants.