It is safe to say that SOL has been among the best performers in recent weeks with new consecutive records. The latest, which arrived a few hours ago, helped the asset outperform Dogecoin in terms of market capitalization.
- Described as one of the fastest and fastest growing blockchain platforms, Solana’s network has become a home for many of the most popular protocols today, including those from DeFi and NFT.
- The explosion of both industries has impacted the underlying blockchain use cases and, somewhat predictably, its native cryptocurrency has skyrocketed.
- On July 20, the price of SOL had dropped to around $ 20. While most of the market recorded 50% to 100% gains from those lows, SOL has consistently outperformed almost everyone.
- The cryptocurrency took just two weeks to double in value against the dollar, but only continued to rise afterwards. This resulted in a breakout above $ 100 for the first time in late August.
- While this was a whopping 400% increase in six weeks, SOL didn’t stop there. In the last 24 hours, the latest record has come, this time above 140 dollars.
- It means that SOL has grown 600% since July 20th. What’s even more impressive is the token’s rise since the beginning of the year.
- It entered 2021 at around $ 1.5, which means it has exploded more than 9,000% year to date.
- In addition to exceeding $ 140 for the first time, the latest record brought another significant milestone. SOL became the seventh largest cryptocurrency by market capitalization (over $ 40 billion). Therefore, it has surpassed the popular meme token: Dogecoin.
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