Solana Taps Another All-Time High Eclipsing Dogecoin's Market Cap, SOL Jumped Over 300% Last Month

DeFi Dec 8, 2022 0 84 Add to Reading List

Crypto assets have seen significant gains over the last month and one such digital currency, solana (SOL) has propelled itself into the top ten rankings and recently flipped the crypto asset dogecoin’s market cap position. As of Friday, solana currently holds the seventh-largest market valuation out of all the coins in existence with a market cap of around $41 billion.

Solana Skyrockets More Than 300% in 30 Days

In mid-August, Bitcoin.com News reported on solana (SOL) capturing fresh all-time highs and since then the crypto asset has gained a lot more value. At that time, solana had just made it into the top ten crypto market capitalizations and today it has risen to the seventh-largest crypto market worldwide. Our report noted that SOL was trading for $74 per unit and today SOL is swapping for $141 per coin, up 90.54% since the market report published on August 17.

SOL has gathered double-digit gains in 24 hours, jumping over 20%. In the last week SOL has gained a whopping 85.3%. Two-week stats show SOL jumped 93.1% and during the last month, solana has gained a massive 310.8%. Year-to-date, solana has risen 3,277.6% and is one of 2021’s top-performing crypto assets. Tether (USDT) is solana’s largest trading pair as SOL/USDT swaps represent 54% of all SOL trades today.

The SOL/USDT pairing is followed by USD (14.87%), BTC (12.80%), BUSD (7.91%), TRY (2.95%), and ETH (2.76%) as far as the top SOL pairs are concerned. Out of the $2.3 trillion in value, solana’s market cap represents 1.73% of the entire crypto-economy, in terms of dominance. Solana pushed dogecoin (DOGE) out of the seventh-largest position on Thursday and the market valuation continues to grow.

With a $41 billion market cap, solana still has a ways to go to eclipse XRP’s $59 billion valuation. The crypto asset SOL tapped an all-time high today, on September 3, 2021, reaching $145.22 per coin. There’s $7.7 billion in global trade volume paired with solana (SOL) on Friday.