in

Solana Spikes 20% to New ATH: Surpassing Dogecoin as Top 7 Crypto

SOLUSD. Source: TradingView


It’s safe to say that SOL has been among the best performers in the past few weeks with consecutive new records. The latest one, which came just a few hours ago, has helped the asset to surpass Dogecoin in terms of market capitalization.

  • Described as one of the fastest and rapidly growing blockchain platforms, Solana’s network has become a home for many of the most popular protocols today, including such from DeFi and NFT.
  • The explosion of both industries has impacted the use cases of the underlying blockchain, and, somewhat expectedly, its native cryptocurrency has gone through the roof.
  • Back on July 20th, SOL’s price had dipped to around $20. While most of the market has charted 50% to 100% gains since those lows, SOL has continuously outperformed almost all of them.
  • It took the cryptocurrency just two weeks to double its value against the dollar, but it only kept climbing after that. This resulted in breaking above $100 for the first time in late August.
  • While this was a whopping 400% increase in six weeks, SOL didn’t stop there. In the past 24 hours came the latest record – this time at above $140.
  • It means that SOL is up by 600% since July 20th. What’s even more impressive is the token’s surge since the start of the year.
  • It entered 2021 at around $1.5 – meaning that it has exploded by more than 9,000% YTD.
  • Aside from breaking above $140 for the first time, the latest record brought another significant milestone. SOL became the seventh-largest cryptocurrency by market cap (over $40 billion). Thus, it surpassed the popular meme token – Dogecoin.
SOLUSD. Source: TradingView

Source

Sponsored Links

Mid Post Ads



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

What do you think?

Alpha Impact Brings Professional Trading Strategies to Everyone

TA: Ethereum Remains Attractive, What Could Trigger More Upsides

Crypto derivatives protocol SynFutures to deploy on layer-2 Ethereum solution Arbitrum

Crypto derivatives protocol SynFutures to deploy on layer-2 Ethereum solution Arbitrum » CryptoNinjas