As of October 16, 2024, Solana (SOL) is trading at around $153.01. It has seen a strong recovery from its lows in 2023 and remains a top performer in the cryptocurrency market. Currently, Solana holds a market cap of $71.7 billion, and over 66% of its supply is staked. It ranks 3rd in total value locked (TVL) within DeFi, and its active development community and ecosystem continue to grow.
Recently, Solana's price has shown significant movement, gaining about 16% over the last 14 days, boosted by a broader bullish sentiment in the cryptocurrency market. Bitcoin's upward momentum has played a key role in pushing other altcoins, including Solana, into an upward trajectory. However, analysts suggest that while SOL may continue to rise in the coming weeks, it is unlikely to reach $200 within this month.
Solana has also experienced fewer network outages in recent months, enhancing its reliability for developers and users alike.
