DRIFT (Drift) 24-hour pump 17.61%

Gate News Bot news, on September 18, according to CoinMarketCap data, DRIFT (Drift) is currently priced at 0.81 USD, with a rise of 17.61% in the last 24 hours, reaching a high of 0.88 USD and a low of 0.57 USD. The current market capitalization is approximately 297 million USD, an increase of 44.5 million USD compared to yesterday.

Drift is a decentralized trading platform built on the Solana blockchain, providing users with perpetual contract trading, prediction markets, and yield earning features. The platform aims to offer users an experience similar to centralized exchanges while maintaining decentralized characteristics. Drift supports trading of multiple cryptocurrencies and offers leverage of up to 101 times.

Important news about DRIFT recently:

1️⃣ Drift Protocol Launches Prediction Market Feature The Drift protocol recently launched a prediction market feature within its Solana ecosystem. This new feature provides users with more trading options and is expected to attract more users to participate in platform activities, potentially driving an increase in DRIFT token demand.

2️⃣ Perpetual Contract Trading Volume Rise As a decentralized trading platform, Drift's perpetual contract trading feature has always been one of its core advantages. Recent market fluctuations may have stimulated trading demand, leading to an increase in platform trading volume, which could be an important factor for the rise in DRIFT prices.

3️⃣ Solana Ecosystem Development Drift, as a project built on the Solana blockchain, is closely related to the overall development of the Solana ecosystem. Recent performance improvements in the Solana network and user growth may indirectly drive the rise in DRIFT's value.

From a technical perspective, the DRIFT price has broken through the previous resistance level, showing strong upward momentum. However, investors should remain cautious of the potential pullback risk that may occur after a rapid short-term rise.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.