Solana Breaks $170, Outperforming Bitcoin and Ethereum
Solana (SOL) is on the rise again, crossing the $170 threshold, outperforming Bitcoin (BTC) and Ethereum (ETH) over the past week.
According to on-chain data provider Santiment, SOL has jumped 33% since July 4, 2024. This increase is attributed to market skepticism around Solana, tied to new developments in the ETF sector.
CBOE Global Markets recently sought approval from the US Securities and Exchange Commission (SEC) to list Solana-linked ETFs. If accepted, regulators will have 240 days to decide. This announcement has boosted Solana’s momentum, with the coin’s price rising over 21% in the last week, outpacing other major cryptocurrencies.
READ MORE:
Is Ethereum More Decentralized Than Bitcoin?Over the past month, Solana’s price has increased by nearly 24%, while Bitcoin and Ethereum saw only minor gains. SOL is currently trading at about $172, up 1.3% in the past 24 hours, but still 34% below its all-time high of $260 from November 2021. With growing optimism, Solana could soon hit $200.
Solana has a history of impressive recoveries. After starting 2023 with single-digit prices due to ecosystem challenges, it surged from around $9 to $121, a 900% increase, showcasing its resilience and potential for future growth.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
87% of crypto registrations failed in UK over ‘weak’ fraud, AML controls
Trump plans to appoint Musk to lead government audit commission
![](https://img.bitgetimg.com/multiLang/image/social/3dd8fe1cceb49ab05dee2193a7ba0a2b1725591904931.jpg)
Travala taps Skyscanner to boost crypto travel with 2.2M hotels
![](https://img.bitgetimg.com/multiLang/image/social/bb3eb6c7980dfc6c90fdd85cd4f34eb41725591904517.jpg)
Kansas Attorney General seizes crypto wallet from Nigerian scammer
![](https://img.bitgetimg.com/multiLang/image/social/8ded2576723971473098e4523992a3091725591904739.jpg)