Solana: Moon is way too low
Solana: Moon is way too low Solana: Moon is way too low

Solana (SOL) has a growing appetite for growth. Without completely ignoring the fall-filled week, SOL has jumped to the 6th place of the largest-cap digital asset list.

Ahead of the upcoming weekend, investors are hoping that the bearish episode of the past few days will be quickly forgotten. In just one day, the entire cryptocurrency market lost more than 11% of its total capitalization. Everything was falling, but not Solana

Despite the turmoil on the price charts of most crypto projects, Solana continues to rise. According to Coingecko data, the promising blockchain recorded the best performance of the top 10 cryptocurrencies over the past 7 days, increasing its valuation by 86.9%.

This was enough for SOL, Solana’s token, to overtake XRP in the cryptocurrency rankings and take 6th place on the list for the first time.

Solana: The moon is not enough

Looking at the chart, Solana’s price is exceeding all expectations. Its rise is almost parabolic and has actually taken place since the beginning of August with increasingly larger weekly candles.

At the time of this writing, the SOL price remains above $200:

Fundamentals are strong

Just last week, Solana was able to swap places with Dogecoin. Strengthening the position above XRP is an important milestone for Solana. The accelerated growth reflects the optimism of speculators and investors who are confident in the token’s sustained appreciation.

This growth also shows the excellent fundamentals that the blockchain carries. It is currently gaining popularity among top dApp developers due to its high performance and scalability. NFT collections such as Degenerate Ape Academy have chosen Solana over older competitors such as Ethereum. Moreover, the total blockchain volume on DeFi platforms running on Solana exceeds $7.5 billion.

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From the Editor

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