The price of Solana (SOL) is approaching the $200 mark for the first time since December 2021, fueled by a remarkable 16% surge in the last 24 hours. According to data from CoinMarketCap, the token is currently trading at $192, with its market capitalization reaching a staggering $85 billion.
Apart from this, a noteworthy factor is soaring above the previous peak that was achieved back in 2021, breaking the new market cap record. As predicted, while the price has stalled slightly under the last record, the vast increase in the supply has drawn the readers’ attention to market capitalization.
The success of SOL´s rise is in line with the growth of cryptocurrency value over the last couple of months. Bitcoin and Ether mitigate all investors’ efforts, as such, prices dropped from $73,000 to $69,000 for Bitcoin and below $4,000 for Ether.
As Solana approaches its all-time high price, the cryptocurrency community closely watches the token’s performance, speculating, whether it will surpass its previous record and continue its upward trend.
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