If there is one blockchain that stands out at the start of the bull run, particularly because of the excitement around the memecoin phenomenon, it is Solana. And the enthusiasm is such that its native cryptocurrency, SOL, has just exceeded its price record.
Solana’s crypto SOL surpasses its all-time ATH
More than 3 years: this is the time it took SOL, the cryptocurrency of the Solana blockchain, to exceed its historical highest price (ATH) of $259.96 and reach around $263.
Solana seems unstoppable: since the resumption of the bull market, the SOL token has appeared as a clear outsider, relying on the success of its blockchain. So, over the last 30 days, SOL has increased by 56%, compared to 47% for Bitcoin and 28% for Ether.
Price developments for the main cryptocurrencies
💲 Buy SOL from Solana in just a few clicks
The Solana data is unequivocal, both in terms of the number of daily transactions and activity on decentralized exchanges (DEX). Currently, Solana accounts for 41.6% of the total volume traded across all DEXs across all blockchains.
Evolution of trading volumes on DEXs of the main blockchains
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The SOL crypto had also benefited greatly from the election of Donald Trump, to the point of overtaking BNB the next day and taking 4th place in the ranking in terms of market capitalization. If Solana’s cryptocurrency were to continue its growth, it could quickly surpass Tether's USDT, putting it just behind Ethereum's ETH.
As Kaiko pointed out in its latest report, Solana is undoubtedly the blockchain that benefits the most from the memecoin trend, notably thanks to the success of the Pump.fun platform.
Evolution of daily volume on the decentralized platform Pump.fun
Among the cryptos that benefit the most from the Solana craze, the PNUT memecoin stands out from the crowd, the latter showing an increase of more than 1,100% over the last 2 weeks. Although created this month, the token created in honor of the squirrel Peanut already displays a colossal capitalization of 1.2 billion dollars.
🗞️ Continue reading —The Solana blockchain, the undisputed leader of this start of the bullrun?
This is the perfect example of what brings investors to Solana, with investors often hoping to bet on the right memecoin – undoubtedly the most popular type of cryptocurrency at the start of the bull run.
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