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What Caused Solana Prices To Rally Over 30 In The

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Solana prices have been on a tear lately, rallying over 30% in under seven days as the broader cryptocurrency market pushes higher.

The SOL token, which serves as the native digital asset of the high-performance Solana blockchain network, climbed to $188.37 late last night, CoinMarketCap figures show.

At this point, the cryptocurrency had risen roughly 33% after approaching $140.00 on May 14 and was trading at its highest value since early April, additional CoinMarketCap data reveals.

Since then, the SOL token has pulled back somewhat, but has still managed to retain most of the gains it generated over the last week, and was trading close to $178.00 at the time of this writing.

Over the last week, the value of the overall cryptocurrency market has risen from roughly $2.25 trillion to approximately $2.6 trillion at the time of report, an increase of more than 15%.

Robust Network Activity

When explaining the latest gains in SOL, analysts polled for this article repeatedly pointed to strong activity on the Solana network.

“There is a lot going on in the Solana ecosystem that could have contributed to the recent gains,” said Brett Sifling, an investment advisor for Gerber Kawasaki Wealth & Investment Management.

www.forbes.com
#Caused #Solana #Prices #Rally #Week

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