Cryptocurrencies: 12,885
Markets: 942
Marketcap: $ 2.10 T(0.32%)
24h Vol: $ 59.98 B
BTC Dominance: 48.13%

Solana Price Surges to a New ATH Above $98 Following Market Rally

The price of Solana’s native token (SOL) surged by 17.15% in the last 24 hours, reaching an all-time high of $98.63 according to data from CoinGecko. This rally propelled SOL to become the fourth-largest cryptocurrency, surpassing Binance Coin (BNB) with a market capitalization of approximately $42 billion.

Trading Volume and Open Interest Soars

SOL’s contract trading volume saw a 32% increase, crossing the 10 billion mark, while open interest in SOL contracts on exchanges reached $1.34 billion as per data from DeFi Llama, making it the second-highest in open interest after Bitcoin (BTC) and Ethereum (ETH). The total value locked (TVL) on the Solana blockchain also exceeded $1.3 billion.

Famed Trader Sells SOL Holdings

Despite the rally, significant players like Arthur Hayes, co-founder of BitMEX, sold his SOL holdings in favor of Ethereum (ETH).

Year-to-Date and Two Month Gains

Solana has experienced a 700% increase since the start of the year, with a 5-fold increase in the last two months alone.

Bitcoin Flirting With $44k

Bitcoin (BTC) traded above $44,100, potentially influenced by recent spot ETF filing updates according to analysts.

The bullish momentum across the crypto markets seems to be continuing into Friday, benefiting altcoins like Solana (SOL).


Latest News