Solana (SOL) has achieved a new all-time high (ATH) of $264, surpassing its previous record of $259.52, and marking an 8.87% increase in the last 24 hours. Just a week ago, the cryptocurrency was trading between $150 and $160, before skyrocketing more than 35% to break the $200 barrier.
Currently priced at $262, SOL is showing strong upward momentum, with its market capitalization hitting $124.58 billion and 24-hour trading volume surging by 60% to $11.05 billion.
This growth is largely attributed to significant on-chain activity. During the US election week, Solana recorded a remarkable 172 million transactions, indicating heightened adoption and usage of its network. As the project continues to gain traction, it now sets its sights on the $300 mark.
Despite potential profit-taking as the price rises, analysts remain optimistic. Breaking through the $245 resistance level could see Solana challenge its 2021 ATH of $259.52, potentially pushing towards $300 in the near future.
With growing interest in fast, scalable blockchain solutions, Solana’s impressive growth signals a promising outlook for the cryptocurrency, as it positions itself for even greater achievements.
Related topics:
Bitcoin’s Surge Toward $100K Drives Rally in BCH, BSV, and BTG
India’s Central Bank Takes Cautious Approach to Digital Currency Rollout
Sky’s USDS Stablecoin Expands to Solana, Boosting DeFi Liquidity
