Two Years Ago on This Date, Solana (SOL) Hit an All-Time High

TL;DR

• Solana’s SOL token has seen a big enhance in worth, rising over 70% within the final month to about $40, though it stays 85% under its all-time excessive of practically $260 from November 2021.
• The value spike comes amidst broader crypto market momentum, with SOL’s earlier peak coinciding with Bitcoin’s surge above $69,000 two years prior.
• Latest developments for Solana embrace surpassing Polygon in each day DEX buying and selling quantity, reaching over $240 million, and attracting $74 million in institutional funding inflows, rating it second solely to Bitcoin.

Solana’s native token – SOL – has carried out fairly effectively prior to now a number of weeks, with its worth leaping by over 70% within the final 30 days. At present, it trades at round $40 (per CoinGecko’s knowledge), whereas final week, it even exceeded the $45 mark.

The fast enhance would possibly sound spectacular, however the token continues to be removed from its all-time excessive registered precisely two years in the past.

Again then, SOL reached nearly $260, that means the asset is at the moment value round 85% lower than in November 2021.

It’s value mentioning that Solana’s report worth (as of the second) coincided with an general crypto bull market, which noticed Bitcoin (BTC) exploding above $69,000.

SOL’s latest comeback has given buyers recent hopes {that a} rally towards additional heights could possibly be within the playing cards. As CryptoPotato reported final week, Solana’s community has surpassed Polygon in each day decentralized alternate (DEX) buying and selling quantity.

The previous registered a quantity of over $240 million, whereas the latter sat at roughly $137 million.

As well as, SOL has captured the curiosity of institutional buyers. The asset has recorded $74 million in such inflows year-to-date, being second to Bitcoin.