Solana (SOL) Reaches (Again) a Record – Its Capitalization Exceeds that of DOGE

Author & Guarantor: Anton Yurchenko

Solana’s (SOL) breakthrough continues. The price of SOL has just reached a new all-time high, with its capitalization exceeding $ 50 billion for the first time. How far will the altcoin go?

Solana’s SOL Price Breaks Its Last Record

Soon the 200 dollars? This threshold which seemed still far a few weeks ago seems to be on the verge of being crossed by the price of the SOL, which has just set a record at 193 dollars. Over the past seven days, altcoin has exploded by + 72%, including + 29% in the last 24 hours alone. In daily, as Crypto-Auditor is aware, the course of the SOL looks like a rocket:

Source: TradingView

This is the first time that SOL’s capitalization has crossed $ 50 billion. This new leap allows it to overtake Dogecoin (DOGE) in the ranking of the most capitalized cryptocurrencies. The SOL is also close to Ripple’s XRP, which has a market cap of $ 62 billion.

Any new announcements behind this bull run?
Beyond her privileged “Ethereum killer” status, Solana appears to have garnered investor attention following a new announcement from Sam Bankman-Fried, who heads the project, as well as the FTX trading platform. The latter confirmed yesterday that FTX will launch a non-fungible token (NFT) platform.

Proof of this widespread enthusiasm, the FTX Token (FTT) is also one of the most significant increases in recent days, with an increase of + 71% over the week and + 14% over the last 24 hours. The two tokens are among the three biggest jumps of the day, along with Fantom’s FTM:

Source: coingecko.com

We also note that the projects built on Solana benefit from this favor of investors. The UXD stablecoin thus managed to raise $ 3 million a few days ago.

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