May 21, 2022

Solana Spikes 20% to New ATH: Surpassing Dogecoin as Top 7 Crypto

2 min read

It’s safe to say that SOL has actually been among the very best entertainers in the previous couple of weeks with successive brand-new records. The current one, which came just a couple of hours ago, has helped the possession to surpass Dogecoin in terms of market capitalization.

  • Referred to as one of the fastest and quickly growing blockchain platforms, Solana’s network has actually become a house for much of the most popular protocols today, consisting of such from DeFi and NFT.
  • The surge of both markets has impacted the usage cases of the underlying blockchain, and, somewhat expectedly, its native cryptocurrency has actually skyrocketed.
  • Back on July 20th, SOL’s rate had dipped to around $20. While the majority of the market has charted 50% to 100% gains considering that those lows, SOL has actually continually outshined nearly all of them.
  • It took the cryptocurrency just two weeks to double its value versus the dollar, however it only kept climbing up after that. This resulted in breaking above $100 for the very first time in late August.
  • While this was a whopping 400% increase in 6 weeks, SOL didn’t stop there. In the previous 24 hours came the most recent record – – this time at above $140.
  • It suggests that SOL is up by 600% since July 20th. What’s much more excellent is the token’s surge given that the start of the year.
  • It went into 2021 at around $1.5 – – meaning that it has exploded by more than 9,000% YTD.
  • Aside from breaking above $140 for the first time, the most recent record brought another substantial turning point. SOL ended up being the seventh-largest cryptocurrency by market cap (over $40 billion). Therefore, it went beyond the popular meme token – – Dogecoin.
SOLUSD. Source: TradingView

SOLUSD. Source: TradingView