Solana (SOL) has been soaring, looking at the performance in the daily chart. At spot rates, the coin is trading above $50, up 520% in the past year when it slipped below $8 following the collapse of FTX, a now-defunct crypto exchange, and Alameda Research, a trading wing linked with FTX and one of the leading crypto market makers.
Solana Blistering Rally At The Back Of Dropping Liquidity?
Though Solana is “blistering” and at new 2023 highs, Kaiko, a crypto analytics platform, is concerned about the disparity in liquidity in USD and “native unit” terms. Typically, the “native unit” refers to the base unit of account of any currency, in this case, SOL.
Native units can be used to measure market depth since it provides