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Home» Cryptocurrency»Solana (SOL) Hits New ATH $194.82, Aims Next for $300

Solana (SOL) Hits New ATH $194.82, Aims Next for $300

James Gordon 08 Sep 2021 Cryptocurrency Comments Off on Solana (SOL) Hits New ATH $194.82, Aims Next for $300 154 Views

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Solana (SOL) was added to our list of the top 40 cryptocurrencies by volume traded in the last week. It reached a new ATH of $194.82 during the last seven days. Its market capitalization is now over $1.4 billion. Solana (SOL) has a current circulating supply of 149.6 million coins and a total volume exchanged of $26.9 million. Its last price was $194.82.. Read more about solana price prediction 2021 and let us know what you think.

Editors’ Updates

  • For the last several weeks, Solana has been on an inexorable market climb. 
  • Solana’s price has reached a new all-time high of $194.82. 
  • In addition, the total value locked (TVL) has reached a new high of $5.98 billion.

For the last several weeks, Solana has been on an inexorable market climb. Solana’s price increased by 35% in the past 24 hours, reaching a new all-time high of $194.82. If the current bullish trend continues, SOL will shortly reach $300. 

Because of its fast transaction speeds, Solana is said to be one of the top contenders to be an Ethereum killer. The transaction speed is 6,000 times quicker than that of Ethereum. Furthermore, the network supports NFT, with the “Degenerate Ape Academy” NFT series selling out its 10,000 unique NFTs in only 8 minutes after its August debut.

SOL is currently ranked 7th on CoinMarketCap. Furthermore, it would not be surprising if SOL’s price breaks into the top five crypto tokens before the end of the year. At the time of publication, the SOL price was trading at $178.7 on CoinMarketCap. 

The Reason for the Price Increase in Solana

SOL’s recent price rise may be attributed to the ecosystem’s increasing decentralized finance (DeFi) activity. In particular, since the beginning of August 2021, the total value locked (TVL) on the Solana blockchain has grown by almost 350 percent. 

In addition to Solana’s price increase, the TVL reached a record high of $5.98 billion. 

Solana-SOL-Hits-New-ATH-19482-Aims-Next-for-300In the Solana Blockchain, the whole value is locked in (Source: Defillama)

Furthermore, the top five DeFi projects on the Solana blockchain are Saber (SBR), Raydium (RAY), Sunny (SUNNY), Serum (SRM), and SolFarm (TULIP). Saber (SBR) alone controls about 29% of the TVL on the Solana blockchain. As of press time, the SBR price has risen by a whopping 48 percent in the past 24 hours, trading at $0.634.

The price of SOL may soon reach unprecedented heights due to future improvements and enhancements inside the Solana ecosystem.

Solana’s Price Hits New ATH $194.82, Aims Next for $300  Solana (SOL) Price Hits New ATH $194.82, Aims Next for $300 The open-source blockchain platform Solana has, over the past few weeks, been on a tear.. Read more about solana price prediction reddit and let us know what you think.

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2021-09-08
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