TL;DR Solana’s SOL token has seen a significant increase in value, rising over 70% in the last month to about , although it remains 85% below its all-time high of nearly 0 from November 2021. The price spike comes amidst broader crypto market momentum, with SOL’s previous peak coinciding with Bitcoin’s surge above ,000 two years prior. Recent developments for Solana include surpassing Polygon in daily DEX trading volume, reaching over 0 million, and attracting million in institutional investment inflows, ranking it second only to Bitcoin. Solana’s native token – SOL – has performed quite well in the past several weeks, with its price jumping by over 70% in the last 30 days. Currently, it trades at around (per CoinGecko’s data), while last week, it even
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Dimitar Dzhondzhorov considers the following as important: Crypto Bits, solana, Solana (SOL) Price
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TL;DR
- Solana’s SOL token has seen a significant increase in value, rising over 70% in the last month to about $40, although it remains 85% below its all-time high of nearly $260 from November 2021.
- The price spike comes amidst broader crypto market momentum, with SOL’s previous peak coinciding with Bitcoin’s surge above $69,000 two years prior.
- Recent developments for Solana include surpassing Polygon in daily DEX trading volume, reaching over $240 million, and attracting $74 million in institutional investment inflows, ranking it second only to Bitcoin.
Solana’s native token – SOL – has performed quite well in the past several weeks, with its price jumping by over 70% in the last 30 days. Currently, it trades at around $40 (per CoinGecko’s data), while last week, it even exceeded the $45 mark.
The rapid increase might sound impressive, but the token is still far from its all-time high registered exactly two years ago.
Back then, SOL reached almost $260, meaning the asset is currently worth around 85% less than in November 2021.
It is worth mentioning that Solana’s record price (as of the moment) coincided with an overall crypto bull market, which saw Bitcoin (BTC) exploding above $69,000.
SOL’s recent comeback has given investors fresh hopes that a rally toward further heights could be in the cards. As CryptoPotato reported last week, Solana’s network has surpassed Polygon in daily decentralized exchange (DEX) trading volume.
The former registered a volume of over $240 million, while the latter sat at approximately $137 million.
In addition, SOL has captured the interest of institutional investors. The asset has recorded $74 million in such inflows year-to-date, being second to Bitcoin.