tech
Bitcoin is having a great month—but Solana is doing even better as coin soars above $100
Bitcoin may have broken $80,000, but Solana is stealing the spotlight. SOL, the blockchain’s native token, climbed more than 23% over the past week, with much of that gain coming in the past 24 hours. The token recently crossed $100 for the first time since February and now trades at $107, according to crypto analytics platform CoinGecko.
TL;DR
- Solana's native token (SOL) has climbed over 23% in the past week, surpassing $100.
- Solana exchange-traded funds (ETFs) recorded a record $1.2 billion in cumulative inflows.
- The total stablecoin value on Solana has approached $16 billion, indicating increased liquidity.
- Network activity has grown, with decentralized exchanges handling nearly $56 billion in trades over the past 30 days.
- Memecoin trading on Solana has increased due to low transaction costs and platforms like Pump.fun.
- Bitcoin ETFs are still experiencing significant inflows and trading volume, suggesting investors are not broadly abandoning Bitcoin for Solana.