This cryptocurrency launched in 2020 is attracting more and more investors. In one month, it made more gains than bitcoin or ether.

The wind of euphoria is not only occurring on the bitcoin market, which exceeded $50,000 this week. The solana cryptocurrency has also been making headway for several months. Today, solana is the fifth most capitalized cryptocurrency, with $50 billion, behind behemoths like bitcoin, ether and binance coin (BNB), the native crypto of the giant Binance.

Since the launch of spot bitcoin ETFs in the United States on January 10, solana has claimed the largest increase over one month among the 10 most capitalized cryptos on the market, with an increase of 21% compared to 19% for bitcoin (see our article on the cryptos that have exploded since the arrival of spot ETFs).

Ethereum overtaking

Launched in 2020, solana gained momentum during the year 2023, with 750% growth over one year, to the point of overtaking Ripple’s XRP cryptocurrency in the ranking of the most popular cryptos. most capitalized on the market.

Solana made an impressive catch-up in one year, after having collapsed by 93% in 2022, in the wake of the fall of cryptocurrency giant FTX in mid-November. Likewise, its blockchain had experienced 6 outages during the year 2022, scaring away investors.

The Solana blockchain has now surpassed Ethereum in terms of volumes traded on decentralized exchange platforms and its new phones (the Solana Saga) are are snatched up during pre-orders. It is therefore also a fundamental movement for solana”, underlines Cryptoast.

Despite solana’s spectacular rise, its price remains 56% lower than its all-time high at $260 on November 6, 2021.

Source: https://www.bfmtv.com/crypto/pourquoi-la-cryptomonnaie-solana-explose_AV-202402160319.html



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