Solana Breaks into Top 10 of Largest Cryptos in the Market

Reading Time: < 1 minute

SOL, the Solana project’s native token, has broken into the top 10 largest cryptocurrencies in the market by market capitalization driven by growing institutional interest and the rise of non-fungible tokens (NFTs) and decentralized finance (DeFi).

The cryptocurrency, currently ranked eighth in CoinMarketCap’s ranking of largest cryptocurrencies in the market, has a price of $98 and a market cap of $28.351 billion.

Notably, the token hit an all-time high of $96 this morning and its price has risen significantly since last August 15.

Cryptocurrency financial services firm Amber Group said:

“Institutional demand for SOL has increased in recent weeks.¬†Generally speaking, money has been flowing into Ethereum alternatives like Solana, Cosmos, Luna, and Avalanche.”

Over the last 4 weeks, the price of these 4 assets has increased by 80% compared to Ether.

If you like our content and want to support us, please follow us on X, Facebook and Instagram and don’t miss the latest news!