The Solana (SOL) coin has recently risen in value as a result of a number of favorable developments. There have been numerous big resistance levels recently in the digital currency. Now, analysts predict a new all-time high for Solana.
Altcoin prices have risen gradually in the wake of Bitcoin’s (BTC) recent high, helping to keep the price of Solana stable. As a result of its recent increase, SOL is now rank 5 among the top 100 cryptocurrencies. This is in terms of trading volume, having seen almost $6.8 billion exchanged in the last 24 hours.
On CoinMarketCap.com it is presently trading at $202, up 8.56 percent in the last 24 hours and 26.6 percent in the past seven days, with a market value of $60.99 billion for the high performance blockchain centered on DeFi.
It’s been over a month since the digital currency hit its all-time high of $214.36, and it’s trading at its best level in that time frame right now.
The worst-case scenario is now out of the picture thanks to Bitcoin’s recent break through resistance. CrediBull, a well-known crypto trader, stated that investors should brace themselves for fresh record highs not only in SOL but in a variety of other altcoins, too.
? Solana Ecosystem: New All-Time High for Solana
Solana’s DeFi blockchain is the “fastest blockchain on Earth,” and it is “censorship-resistant.” This should be noted. It can enable smart contracts, non-fungible tokens (NFTs), and a variety of other technologies.
About 2,327 transactions occur per second in the Solana ecosystem’s over 400 active projects, which use the SOL money to facilitate these operations. However, in spite of the large volume of transactions, the average transaction costs only $0.00025.
Considering how popular the project has grown over time, Solana has announced that their Breakpoint conference. It will be held in Lisbon on November 7-10, 2021 and the tickers has sold out entirely.