SOL, the native token of Solana, a fast-growing blockchain and ecosystem in crypto, has recorded a new all-time high on Monday, which saw its price attain a three figures mark of over $100.
With this new record, the crypto has climbed up the table of the largest cryptocurrency in the world, where it now occupies the 8th spot and is now ahead of Polkadot and stablecoin USDC.
Solana reached a record high of $101.57, according to Coingecko, but has slightly declined at press time.
Solana now has trading volumes of $2.3 billion, with a market cap of $29 billion.
In the last 24 hours, bitcoin is down by 1.27%, with a current price of $47,875.03 as at the time of writing this. Within 24 hours, bitcoin dropped to $47,428.70 low and $49,404.38 high. The trading volume of bitcoin in the last 24 hours is $718.98 M. The current market capitalization of bitcoin is $900.10B. Currently, $18.80M bitcoins is in circulation.
Stats and Image from Coin Desk
For the past two weeks, Solana has experienced a steady price growth rate, seeing its value more than doubled during this period. This continued price rise is attributed to the boom in decentralized finance (Defi) and non-fungible tokens (NFTs).
Other factors contributing to the price increase include the Securities and Exchange Commission (SEC) registering a Solana-centric fund for institutional investors, Pyth, a cryptocurrency market data network company, going live on the Solana blockchain, and Solana’s successful venture into non-fungible tokens.