Solana (SOL) has continued its bullish run, surging nearly 16% in the past 24 hours while gaining more than 30% throughout this week.
Data from Coinmarketcap shows that the SOL price increased from $84 to the current $99 during the past 24 hours. The surge has helped SOL break its 20-month high, as the last time its price was in this range was in April 2022.
While the crypto market is moving towards new heights, Solana has outperformed all major cryptocurrencies, including Bitcoin and Ethereum. The crypto community is also seeing Solana’s price surge as it wins over Ethereum as a so-called “ETH-killer chain.”
The surge has been attributed to the recent boom within the Solana ecosystem which has been led by BONK memecoin’s huge success. Another popular memecoin among degens, Dogwifhat ($WIF) has also attracted users into the Solana ecosystem.
Solana’s Saga phone has also been in trend for the past few days as several Solana-based protocols are announcing airdrops for Saga owners. BONK and Access Protocol already announced their airdrop on Saga phone while a ton of other protocols are in line.