Solana’s SOL hits all-time highs after rising 36% on a weekly basis as it looks like the coin is doing fine after the September downturn. So read more on today’s altcoin news.
Solana’s SOL hit a new all-time high today at $ 219 and last month’s loss of life slowed Solana’s momentum after the massive bull run in August, but that doesn’t seem to be the case. The late summer bull run was disrupted by a grid outage in September that seemed to slow the dynamics of the smart contract platform, but the general rally market only allowed Solana to accelerate again and hit a new high.
The cryptocurrency SOL has hit a new all-time high of over $ 219, an increase from the $ 213 high downturn. The price of SOL has increased about 36% in a week and 57% in the last 30 days. SOL’s market capitalization has surpassed XRP and is the sixth largest cryptocurrency in the market. The broader crypto market is on the rise, with BTC setting a new ATH of $ 67,277 last week, while ETH hit its own high at $ 4,361, according to CoinGecko.
According to the website, the total crypto market cap is currently $ 2.75 trillion, which roughly equates to an ATH of $ 2.77 billion. Solana’s ecosystem activity has accelerated over the past three months, and the platform’s decentralized financial protocols, which enable person-to-person borrowing, trading, and lending, rose by the end of the year, with assets valued at over 13.9 billion US dollars according to data from. DefiLama are locked in Defi protocols. NFT activity on Solana grew over the weekend with an estimated market cap of $ 910 million per Solanalysis and trading volumes of over $ 64 million in the past week.
NFTs are tokens that act as proof of ownership of digital items on the blockchain, and the market saw a well-known entity when FT US launched its own centralized marketplace. His stance not to list NFT collections that provide royalties from secondary sales to other owners has made itself felt in the room as several projects have been canceled or plans changed. Solana saw an increase in value in August and September as it rose from a price of $ 35 to a high of $ 213, with the network disrupted for more than 17 hours due to the billing platform.
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