Bittime - Solana (SOL) sets a new record again! The cryptocurrency's market capitalization hit an all-time high of $81.1 billion on Friday morning in Asia, according to The Block's pricing page. This figure surpasses the previous record of around $77.9 billion recorded in November 2021.
Check Today's Crypto Market:
SOL Price Increases 10%
Along with the soaring market capitalization, the price of SOL also experienced a significant increase. In the last 36 hours, the price of SOL rose around 10% to $174.13 or Rp. 2,720,580 (around 17:30 WIB).
However, the price is still far from the all-time high of $259.96 in November 2021.
Memecoin Fever on Solana
Experts attribute the rise in SOL prices to the brisk activity of blockchain-based meme token Solana. Benjamin Stani, Director of Business Development at Matrixport, told The Block, “It is this memecoin-driven activity that is driving SOL prices higher.”
Several Solana meme tokens have shown fantastic performance in the last 24 hours, such as Dogwifhat which rose 20%, Popcat which jumped 35%, and Bonk which rose 10%.
Also Read 6 Hottest Meme Coins That Have the Potential to Soar 300x in 2024!
First Memecoin Outside of Ethereum to Reach Billion Dollar Capitalization
Stani also noted that Bonk and Dogwifhat were the first meme tokens outside the Ethereum network to reach a market capitalization above $1 billion. This, according to Stani, shows "there is a real use for the Solana blockchain" and also "closes the debate about the irrelevance of non-EVM (Ethereum Virtual Machine) blockchains".
Also Read How To Buy Crypto:
New Trend on Solana?
Previously, Colosseum Co-founder Clay Robbins told The Block that memecoins were "on the rise" on Solana due to their fun and accessible nature.
Check Crypto Prices Today:
Solana Network Activity Increases
In addition to the record market capitalization, the Solana network also recently updated the record for the daily number of new addresses on the blockchain. Based on a seven-day moving average, the daily number of new addresses reached 738,040 on Wednesday, according to The Block's Data Dashboard. This increase in activity on the network is a positive signal for the future of the Solana ecosystem.
How to Buy Crypto from Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read Also
From KangaMoon to Gala, These are the 5 Best P2E Tokens to Pay Attention to in 2024
180% in 2 Months: Chainlink CCIP Surge Makes You Feel Left Behind
Be careful! Ethereum Staking Concentration Threatened by ETFs, Here's the Risk!
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.