$DRIFT Jumps 45%+ in 30 Days: What’s Driving the Surge?

Drift Protocol (DRIFT) has seen an impressive 45%+ increase over the past month. This token hasn't gone unnoticed by traders after its price rallied from $0.46 to $0.61. 

On September 11th, a sharp spike pushed the price from $0.45 to $0.55 following Multicoin Capital’s forecast of $DRIFT reaching $3.58. Meanwhile, the coin’s co-founder recently noted that the Drift Protocol is currently super bullish like he's never seen.

Strong Position in the Solana Ecosystem

DRIFT Protocol, a decentralized exchange (DEX) on the Solana blockchain, offers more advanced trading tools than most DEXs. Perpetual futures, leverage, and even betting options allow users to trade with more flexibility and control. 

This robust setup makes $DRIFT a standout within the Solana ecosystem. At press time, $DRIFT ranks 7th among the top Solana chains by Total Value Locked (TVL), with $376.28 million in assets locked. 

This rank puts DRIFT higher than Orca, another popular exchange, which holds $275.88 million. $DRIFT’s rising TVL shows a strong level of confidence from users, as more assets flow into the platform.

Airdrop and Analyst Predictions Fuel the Rise

A recent analysis by Multicoin Capital has been a driving force behind $DRIFT’s recent surge. Their prediction of the token reaching $3.58 has created a buzz, pushing demand higher. 

The ongoing $DRIFT airdrop has also added momentum, with over 92% of the available tokens already claimed. This airdrop, combined with the bullish forecast, has drawn new users and encouraged existing ones to hold on to their tokens.

With such positive momentum, $DRIFT continues to attract attention. For now, the combination of advanced trading features, growing user trust, and strong price predictions suggests that $DRIFT could maintain this upward trend.