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Thursday, January 26, 2023

Solana Manages To Hit New All-Time High; Altcoins Lag Behind

Solana has been one of the leading cryptocurrencies based on the recent performances as of 16th May, Sunday. In addition, Solana had exceeded both the top cryptocurrencies, Bitcoin as well as Ethereum by a huge margin.

The native token of Solana is SOL and it has been charting new record highs. SOL has also gained in Bitcoin and US dollars. This is mainly due to the reason that this network is quickly growing its adoption along with the major technological breakthrough.

Breakthrough Journey Of Solana

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The token of SOL successfully managed to touch a high of $52.42, as reported by TradingView. Moreover, SOL has also made a staggering 24% gain in the past 24-hour trading cycle.

This indicates that the token has touched their all-time high as of now and found their biggest break that is more than $50, their psychological level. According to the data of Cointelegraph, Solana had previously rallied to the $49.99 high on 2nd May. Nonetheless, the token lost its momentum. Furthermore, their target of $50 remained unrealized over the last 2 weeks.

At this moment, SOL is trading over $51.

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According to the present value, the market capitalization of SOL is $13.9 billion. This makes the token 15th among all the cryptocurrencies.

SOL has been greatly outperforming BTC and ETH on Sunday. Yet the leading cryptocurrencies were highly subdued after the huge market meltdown that took place due to decreasing investor sentiment and Elon Musk.

However, SOL exceeded BTC by 24% and 28% over ETH since the last 24 hours.

SOL has also become the most active among the blockchain networks during recent months. Bringing $40 million through strategic investments. The demand for SOL tokens is also increasing because of issue airdrops of Solana-based projects to present users.

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