In 2021, the glory year of cryptocurrencies, SOL traded at $259.96 per coin. Since then, the curves have only showna dizzying fall for Solana crypto. Enough to leave investors in doubt regarding the future of their favorite digital asset. Except that recently, with the recent rise of bitcoin, the SOL also performed. Many believe that it would be negotiable soon to 50 dollars. Zoom !
Solana, the most bullish crypto of the moment?
The crypto winter, translated by some as bear market, is over: time for the bull run. Bitcoin started with a surprise on October 24, surpassing the $35,000 threshold amid speculation around spot Bitcoin ETFs. And as usual, when BTC is doing well, altcoins are also in the green.
This is the case of SOL, whose performance far exceeds that of the queen of cryptos.
“ Solana SOL outperformed other top crypto assets in October with a 50% gain, adding $6 billion to its market cap.
SOL is also up over 250% year to date. »
CoinDeskin a recent analysis clarified that SOL “outperformed” other cryptocurrencies during the month of October. Indeed, during this period, the native crypto of Solana posted an increase of more than 50%. By making comparisons on statistics from the start of 2023, analysts have predicted more than 250% gains for this altcoin.
Note in passing that the figures differ from one platform to another. A quick look at CoinGecko allowed us to know that SOL gained 80% in one month and only 32.6% over one year. Additionally, Solana’s crypto price at the time of writing was $43.80.
In a publication of Finboldwe also noted a 62% increase in Solana’s market capitalization. In fact, for one month, SOL was able to add $6 billion to its value when it rose from $9.88 billion on October 2 to $16.4 billion on October 1.er november.
“ Solana, who has now returned to 7e place on the rankings by market capitalization, has now seen its value increase by +62% during an excellent month of October. Notably, almost 2% of all discussions relating to the top 100 assets are related to SOL, and increasing volume would be bullish », notes the crypto analysis platform Santiment.
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