Solana (SOL) price surpassed $110 for the first time in a year and a half
The native blockchain token Solana continues its impressive ascent, which has now lasted three weeks.
This morning, the price of SOL broke $110, reaching levels last seen before the collapse of the Terra ecosystem a year and a half ago. The cryptocurrency is updating one local maximum after another amid a surge of interest in memcoins and growing activity in the DeFi sector.
Solana price soared 400% in six months
Over the past 6 months, the price of SOL has skyrocketed by several hundred percent. At the time of writing, the asset is trading in the range of $110-117, which means an increase of 60% in just a week.
The total value of assets locked in Solana smart contracts has reached levels last seen in July 2022, rising from $400 million in November to $1.49 billion at the time of writing. DefiLlama reports that trading volume on decentralized exchanges on SOL is approaching Uniswap's trading volume.
