According to CoinDesk, Solana's SOL outperformed other top crypto assets in October, recording a 50% gain. The cryptocurrency is also up over 250% year-to-date. The surge follows last year's downturn when investors speculated about Solana's future after the collapse of its top backer, FTX, which threw the blockchain's future into disarray. The Solana community is currently hosting its annual conference, Breakpoint, in Amsterdam.

A growth report on Solana by Messari suggests that for Solana's growth story to continue, a constant stream of new experiments will have to flood in, with a few grand slams finding product-market fit. In comparison, Bitcoin witnessed a 23% gain in October after hitting a 16-month high of $35,000 on October 23, while Ether had a less impressive month, gaining just 3%. Chainlink's LINK followed behind Solana with a 42% uptick over the same period.

In other news, Bitcoin miners are evolving into industrial-scale enterprises, with North America gaining market share over China, according to a research report by broker Bernstein. The report initiated coverage of the sector in the U.S., preferring Riot Platforms RIOT with an outperform rating and a $15.60 price target, and rating CleanSpark CLSK outperform with a $5.30 price target. Analysts Gautam Chhugani and Mahika Sapra noted that these miners are market share consolidators with strong operational edge, low cost of production, high liquidity, and unlevered balance sheets.