[Solana’s market dominance rises as price surges 33%]
Solana (SOL) is back up to 3.45% market share after a rough 2022. Data shows that SOL has gradually recovered and regained its footing as the crypto market revived interest.
According to data from Into The Cryptoverse (ITC), Solana experienced a significant drop in price and market capitalization during the bear market. During the 2021 bull market, SOL's market share reached nearly 4%, but then fell sharply. However, SOL's market cap has stabilized at around $80 billion since mid-2023 and currently has a market cap of $73.47 billion, showing a strong rebound as its market cap fell below $10 billion in 2022.
In terms of price, SOL reached an all-time high of $260 in 2021 before falling to $11. Today, the price is back up to $156, up 714% over the past year.
It is worth noting that, excluding stablecoins, Solana’s market share is 3.45%; if stablecoins are included, it is 3.26%. While its market share fell by 5.69% over the past six months, it rose by 1.58% in the latest week.
Recently, Solana price rebounded from a low of $121.06 to $160.98, a gain of 33%. By comparison, Bitcoin remains the cryptocurrency with the highest share at 57.64%, and its price currently stands at $65,634, up 10.2% over the past month.
