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Solana (SOL) Adds 15% to Yearly Gains With Robust Ascent

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Fri, 8/12/2023 - 12:17
Solana (SOL) Adds 15% to Yearly Gains With Robust Ascent
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Solana (SOL), the Solana blockchain's native cryptocurrency, has surged by 15% in the last 24 hours, reaching new yearly highs of $72.88.

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Solana has trounced every other cryptocurrency, increasing by roughly 426.4% in a year, according to CoinGecko data.

Remarkably, SOL has been the only major cryptocurrency that has even come close to a strong rally year to date. SOL holders have seen remarkable profits across numerous time frames and may continue to do so as the Solana price touches $72.

TradingView
SOL/USD Daily Chart, Courtesy: TradingView

Bitcoin's (BTC) surge temporarily stalled on Thursday, handing the spotlight to major cryptocurrencies such as Solana (SOL), which leaped to a new 19-month high.

Solana (SOL) rose in three days to over $72, the highest since May 2022, after a three-week pause after its mid-November local peak.

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Whale Makes Big Moves on Solana (SOL) — Is Trend Reversal on Horizon?

In a message on X (previously Twitter), Arthur Hayes, BitMex exchange founder, hints at a $100 price target, predicting a positive weekend for altcoins.

Solana's stellar performance has resulted in a huge increase in its market value. At the time of writing, Solana is the sixth-largest crypto asset by market cap, with a total market worth of more than $30.449 billion.  

Solana has a decentralized application ecosystem and smart contract tokens, including NFTs and fungible tokens. The Solana Primary Library (SPL) standards are used to create smart contract tokens known as SPL tokens, or "Solana tokens."

SOL was up 13.61% in the last 24 hours to $71.45 at the time of writing. Solana's 24-hour trading volume increased by 97.62% to a whopping $4.08 billion, or 57.54 million SOL exchanged. 

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