Ethereum
Solana gains 5%, while Bitcoin and Ethereum see minor declines
Solana gains 5%, while Bitcoin and Ethereum see minor declines
While most major cryptocurrencies are trading sideways or slightly lower, Solana (SOL) stands out with an increase of almost 2.28% over the last day. According to data from CoinMarketCap, Solana is currently trading at $155.03, marking a one-week gain of over 20.36%. Despite a turbulent month that saw its value fall from a high of $184 to a low of nearly $120, Solana has continued to climb over the past week, outpacing gains from Bitcoin and Ethereum.
In contrast, Bitcoin remained stable over the past 24 hours, trading at $63,618, while Ethereum edged down 0.84% to $3,075. Over the past week, Bitcoin saw a modest increase of 4.05%, while Ethereum rose by 2.20%.
Among the top 100 coins by market cap, a few notable winners can be found in the Solana ecosystem. Jupiter’s token, JUP, which serves as a decentralized exchange aggregator, rose 25% over the past week to a price of $1.14. Additionally, leading memecoin based on Solana Dog Hat (WIF) saw an increase of over 35% in the last 7 days, reaching $3.28.
Solana’s recent resurgence coincides with an increase in the number of new tokens deployed on the network using the SPL standard. On Saturday alone, a record 14,648 new tokens were deployed on Solana, as reported by Solscan. This trend has continued over the past two weeks, with at least 10,000 new tokens introduced to the network every day.