Market price Solana It hit an all-time high late Friday, according to data from CoinGecko, where it peaked at more than $82 billion. It has since fallen slightly to $80.5 billion, though it still remains above 2021 highs.
But Solana (SOL) price It is still below the November 2021 high of $259.96. This is because there are more coins on the market compared to 2021, pushing the overall market cap to a new high.
SOL is currently trading at $181, up nearly 9% in 24 hours and up 21% over the past seven days. Out of the top 20 coins and tokens, SOL is the best performer in the past day. And today's high is the highest price seen since December 2021.
Solana Mania made an unexpected comeback last year. FTX was a favorite of the Ethereum-mined crypto brand, billed as a blockchain-fast and cheap competitor. The failed exchange had a huge impact on the project and SOL and the price fell sharply by the end of 2022.
Some crypto observers thought that the criminal trial of former FTX boss Sam Bankman-Fried and the collapse of the crypto empire would lead to the collapse of the token and the network.
Instead, Solana started growing again last November for a variety of reasons: developers thought it was fast and cheap, major brands like Shopify and Visa wanted to use blockchain, and meme coin merchants flocked to the chain because of its low fees.
SOL is now the fifth largest digital asset by market value. Interest in the network has increased during the recent crypto price boom—especially as new tokens like BONK and Dogwifhat have gained popularity.
Edited by Andrew Hayward.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and are not financial, investment or other advice.
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