The fast-rising Solana (SOL) has broken its own record, up by nearly 15,300% since the start of the year, according to the Messari analysis agency.
SOL, which saw its highest value (ATH) since November 4, went up to $ 247, and is currently trading at $ 239.
Renowned analyst and crypto trader Scott Melker describes Solana as a legitimate competitor to Ethereum. According to Melker, SOL’s growth is due to the rapid growth of crypto games and successful launches of mushroom-free new tokens (NFTs).
On the other hand, the number of transactions per second is undoubtedly an important factor in Solana’s popularity. The fact that the number of transactions two months ago reached 400,000 in total is also related to this.
Ethereum Takes Solana Up!
According to some analysts, SOL’s recent rise is also tied to Ethereum because gas fees are rising as the price of Ether rises, while Solana offers investors more trading opportunities at much lower fees. As such, investors are looking for alternatives to ETH and turn to SOL. On the other hand, the number of NFTs launched in Solana is also increasing.
Ethereum has risen over 2,000% since June. Solana, on the other hand, set a new record with an increase of more than 15,000% in 2021 and reached ATH value, providing huge gains to its investor. So whenever ETH goes up, SOL also goes up. Let’s see if the same parallel rise will continue in the next period.