Solana Price Surges by 13% Following New Support From Perpetual Contract Trading Platform

Solana, the fifth-largest cryptocurrency by market cap has surged by more than 13% following support from a new perpetual contract trading platform launched by Synthetix. The announcement which was made on X (formerly Twitter) by Infinex and garnered the attention of over 47,000 users, confirmed the integration of Solana into its ecosystem. Infinex is an easy-to-use platform that allows you to access the world of decentralized finance with a wide range of multi-chain support and high-level security.

Infinex Integrates Solana Into its System

In an exciting update, Infinex, a recently launched decentralized platform that allows perpetual contract trading, has informed the public that it has integrated Solana into its system, marking a significant milestone in the lifecycle of the platform.

Welcome @solana to the Infinex Account.

Solana support is now live.

🍊 https://t.co/SHkYi2Vdc7 pic.twitter.com/8WMwSxrJEE

— Infinex (@infinex_app) May 15, 2024

The introduction of Solana to the Infinex platform represents a major development in the world of decentralized finance. Additionally, the update comes amid a series of latest developments that have rocked the DeFi space in recent months as it continues to grow and expand. With the latest addition, Infinex demonstrates its commitment to providing users with superior and efficient trading tools.

Meanwhile, according to updates from the Infinex website, the Total Value Locked (TVL) on the platform has reached a significant 70,832,536.19 USDC, indicating a growing use of the platform and demonstrating users’ trust and confidence in the service. The TVL status shows that over 4.1 million USDC has already been locked in Solana.

Solana is a blockchain platform that exhibits high performance. It facilitates the use of cryptocurrencies and decentralized applications that are quick, secure, and scalable. It is validated by thousands of nodes operating independently of each other. Its integration into the Infinex platform is strategic, as it will ensure an enhanced performance and user experience.

Solana (SOL) Price Dynamics

Meanwhile, the price of SOL has demonstrated a positive movement following this update. According to data from CoinMarketCap, the price of SOL has jumped by 13.45% to trade at $116.11. This makes it the top gainer among the top ten cryptocurrencies by market cap.

What is more, the activities involving Solana (SOL) as recorded in its trading volume have surged by 86.8% to $4.3 billion over the last day, signifying growing activities among investors. Consequently, SOL now has a live market cap of $73.14 billion.