According to Decrypt, Solana's price has surged by 33% in the past week, making it the best-performing digital asset currently. The open-source blockchain project's native token, SOL, is now priced at $43.95 and ranks as the seventh largest digital asset by market cap. In the past 30 days, SOL has seen an 88% increase in value.
Solana is a blockchain platform used by developers to build decentralized applications such as DeFi lending protocols or games. It was launched as a competitor to Ethereum, which is often criticized for being slow and expensive for running transactions. Interest in Solana has grown recently, with asset management company VanEck predicting a potential 10,600% price increase for it in the coming years.
Other major digital assets have also seen gains, but not as significant as Solana. Bitcoin, the largest cryptocurrency, has gained 30% in the past month, while Ethereum is up 1.5%, trading at $1,836. XRP has also seen gains, up less than 2% in the past day, with a price of $0.60. The entire cryptocurrency market cap currently stands at $1.33 trillion, up 1.2% in 24 hours.
