Over the past 24 hours, the price of Sol Solana has risen more than 3.8% to reach 175.79 on March 18, the highest in the past month, 18. The token has a monthly return of around 33.5%. On a weekly timeframe, SOL's 20.7% rise was the largest among the top 15 coins and tokens by market value.
Daniel Chang, co-founder of digital asset hedge fund Syncracy Capital, wrote on microblogging site X: "It's pretty clear that this is still the best trade this cycle".
Zheng said he was "much more confident" that the #Sol price could return to the $200 mark by the end of this month and "soon" jump to new all-time highs.
SOLSOL has shown incredible strength in this recovery - it is quite clear that it is still the best offering in this cycle.
We are now much more confident in SOL's ability to recover the SOL200.
FRANKENDANCER APPEARS ON THE HORIZON, PAVING THE WAY FOR A FIREDANCER UPGRADE.
Sol, at the peak of the previous bull market, set 2021-11 at the current record high of ¥259.96 (about 32.8% above the current price). The #cryptocurrency plummeted to nearly 8.8 in 2022/12 following the collapse of Sam Bankman-Fried's FTX empire, but has since rebounded sharply. In the last year alone, it's up 739.2%.
The increase in the value of SOL on May 5 can be attributed to several factors, including an increase in Solana-based meme coins amid the latest wave of crypto frenzy, an increase in decentralized finance (DeFi) transactions, and positive news in the #Solana ecosystem. Trading platform #Robinhood recently launched its first solvetting product for European clients. The launch has increased investor confidence in Solana, as it is believed that the presence of a leading broker like Robinhood in the market confirms the potential and strength of the cryptocurrency.
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