Solana Price Rally Surpasses that of Bitcoin
According to the latest reports, the native token of the Solana protocol has surprised the entire cryptocurrency community. The reports suggest that its prices have literally given a high voltage shock to the followers of the largest cryptocurrency in the world, Bitcoin (BTC).
The reports suggest that the native token of Solana, SOL has hit all-time highs and has even surpassed the price rally of Bitcoin (BTC). The reports suggest that the network has been growing in size and has been breaking all the records.
According to the stats, Solana has experienced a sudden surge in its price on Sunday, May 16, 2021. According to data from one of the on-chain data-analyzing firms, TradingView, SOL has experienced a great surge. The data shows that as of Sunday, May 16, 2021, the price of SOL hit an all-time high of $52.42.
The data shows that in the last 24-hours, the price of SOL has experienced a 24% surge. This surge has not only helped Solana (SOL) hitting an all-time high, but has also turned down many speculations made against the platform.
According to the report, Solana (SOL) has also surpassed the psychological expectations that the SOL investors had. Over time, many analysts had predicted that it would be almost impossible for SOL to cross the $50 barrier.
However, SOL proved that the speculations made against the asset were not authentic and were short-lived. The rally for SOL price had already started building back on May 2nd, 2021, when it experienced its all-time high until that date.
The data shows that on May 2, 2021, the price of SOL had experienced a surge and it came all the way up to $49.99. However, SOL soon lost momentum and its price went down before it became stagnant.
Then, after two weeks, SOL has again experienced a rally and this time, it broke through the $50 price barrier. At the time of writing, the price of SOL is hovering at $51 and many speculations are coming in claiming it would hit another all-time high.
At the time of writing, the market capitalization of Solana is $12 billion, which earns it 16th spot in the top 20 cryptocurrencies by market capitalization.
On the other hand, when we run a price comparison between SOL and BTC, we come to know that it has beaten BTC in the race of rally in the last 30 days.
In the last 24-hours, SOL price has experienced a 24.31% increase, in the last 7-days, 4.19% increase, and in the last 30-days, 100.30% increase.
Whereas, in the last 24-hours, BTC’s price has experienced a 2.36% drop, in the last 7-days, 18.31% drop, and in the last 30-days, BTC has dropped by 23.66%.