Metaplex (MPLX) Surges 31% as Bithumb Trading Volume Skyrockets Amid Solana Ecosystem Strength

▲ Metaplex (MPLX)/Source: X

Metaplex (MPLX) is drawing market attention after surging over 31% in a single day. Amid strong buying interest across the Solana ecosystem, Bithumb's trading volume in Korea has also significantly increased, focusing investors' attention.

According to cryptocurrency market data aggregator CoinMarketCap on July 5 (local time), Metaplex rose 31.09% to $0.0502 over 24 hours. During the same period, the total cryptocurrency market capitalization only increased by 0.91%, and Bitcoin (BTC) by 0.62%, but Metaplex recorded a significantly higher growth rate, showing strong relative strength compared to the market.

The key background for this surge is the overall strength of the Solana ecosystem. The media reported that Solana-based tokens such as VAR, OUSD, and OpenClaw recorded over 300% growth and explosive trading volumes over 24 hours. Metaplex, a core protocol for Solana's NFT infrastructure, also benefited from increased network usage and expanded speculative interest in the ecosystem, leading to a co-rise. In the domestic market, trading became active, particularly on Bithumb, indicating growing investor interest.

Furthermore, the rotation of funds into altcoins supported the uptrend. The CoinMarketCap Altseason Index rose to 52, showing a flow of funds from Bitcoin to altcoins. Despite market sentiment still being in the fear zone, a partial recovery in risk asset preference further amplified Metaplex's gains.

In the short term, key price levels are crucial. If Metaplex maintains the $0.045 support level, it may attempt a further rise to the $0.060 range. Conversely, if it falls below $0.040, a short-term correction could occur, the media projected. Experts analyzed that whether Solana Decentralized Exchange (DEX) trading volume maintains a high level in the future will be a key variable determining the continuation of Metaplex's uptrend.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*