Solana Whales Flip $82M SOL As Top Altcoins Regain Momentum
The shifting altcoin landscape brings Solana back in the spotlight, serving as a wake up call for SOL’s top whales.
This week, the rapidly growing Layer-1 blockchain Solana (SOL) continues its bullish streak. Solana’s native cryptocurrency scorched past the $100 mark again on Wednesday, January 31, 2024. After facing a gradual market correction this month, SOL found its footing at $79 and rebounded to triple digits in a week since the monthly lows.
The 25% upswing in SOL in the last seven days comes amid the rising popularity of Solana’s DeFi ecosystem. Popular dog-themed memecoins like Bonk (BONK) and Dogwifhat (WIF) served a powerful boost for the main token SOL, while the dynamic liquidity protocol Jupiter Exchange’s native coin $JUP was listed on the biggest crypto exchanges today, including Binance, Bybit, OKX, KuCoin, HTX, and more.
According to the blockchain data analytics firm Santiment, Solana is one of the three large-cap altcoins that managed to rebound substantially since last week’s overall cryptocurrency market correction. Indeed, SOL bounced back to triple-digit price after a two-week hiatus.
$SOL
