Solana (SOL) has gained bullish momentum as the Zeus network plans to hook up it to the Bitcoin blockchain.

SOL price tag is up 4% in the final 24 hrs and is trading at $129.9 at the time of writing. The market capitalization of the asset crossed the $58 billion mark with a every day train volume of $4.1 billion.

In accordance to knowledge furnished by Santiment, SOL&#039s total open up curiosity has been steadily declining above the previous 10 times – slipping from $1.63 billion on April 22 to $1.35 billion at the time of reporting.

Reduce open up fascination most likely implies less rate volatility and liquidation.

In addition, details from the marketplace intelligence system reveals that the ratio of very long to brief positions on Binance has halved given that April 29 as SOL value ongoing its downward momentum. This suggests that additional trading contracts ended up betting on soaring price ranges.

In accordance to Santiment, the SOL Relative Energy Index (RSI) rose from 43 to 50 in the previous 24 several hours. The indicator suggests that the asset is neither undervalued nor overvalued at this selling price level because of to bearish market place conditions.

For SOL to remain in the bullish zone, its RSI have to continue being beneath the 50 mark. An RSI higher than 50 can also indicate greater selling price volatility and even whale manipulation.

The bullish sentiment toward SOL arrives right after Zeus Network introduced the possibility of creating Solana a “layer 2 option for all blockchains” with ZPL (Zeus Program Library) and assets backed by the so-termed permissionless conversation layer.

In basic terms, people can turns up Belongings such as BTC in ZPL-Asset, zBTC for example, and accessibility to the Solana ecosystem, according to the announcement.