- Solana records a new all-time-high price.
- SOL launched its Solana’s hackathon event.
Solana (SOL) records a new all-time-high when it successfully smashes the bullish price of $51.64. This price surge allows SOL to create a stunning growth rate of over +8300% in the past 12 months. Indeed, this is a price level that is good enough to attract investors around the world.
Regarding its market position, SOL ranks as one of the top 15 cryptocurrencies in CoinGecko. For this reason, the market capitalization of SOL amounts to over $13 billion. Also, the crypto has a 24-hour trading volume of almost $3 billion. With all these developments, we can say that SOL is doing a great job this year.
Furthermore, SOL launched the ‘Solana Season Hackathon’, an event that attracted more than 10,000 registrations. Specifically, this event offers up to $1 million in global prizes and seed funding for participants.
In terms of its technology, SOL has already integrated key features to its network, which includes non-fungible tokens (NFT), decentralized finance (DeFi) capabilities, and decentralized exchanges (DEX).
Based on the graph above, SOL successfully managed to defend its position against the bears in the past months. Also, the chart displays the increased rate of the crypto to almost +2000% from March to May. If this trend continues, SOL might have the chance to rally its price further to $70 before the year ends. Of course, this might happen if the bullish market continues to favor cryptocurrency.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.