Solana (SOL), among the cryptocurrencies that has seen price spikes over the past few months with a record all -time high (ATH), was $ 54.23 on May 18th.
However, the collapse of the crypto market caused SOL to hit its lowest level on May 23 with a value of $ 22.08 before jumping over 86% to $ 35.7 at the time of this writing.
For the record, the average investor is confident in Solana’s abilities as one of Ethereum’s closest competitors.
Be aware, Solana developers have built this blockchain with a strong support guarantee to achieve greater value from deflation due to the flexibility of its tokens as utility tokens.
No wonder Solana has seen an increase in its use among highly reputable institutions.
Among the projects that attracted the attention of his fans:
The integration between OpenOcean and the Solana network offers an alternative to the DeFi aggregation system to other Solana -based aggregators.
The Coinbase -backed DeFi Alliance is rumored to have contributed $ 100,000 in Mercurial Finance, the first Solana -based project.
Solana is gaining more attention after being listed in Coinbase Pro on May 24.
With the positive factors surrounding the Solana ecosystem, it’s not impossible this asset will soar above $ 50 once again. Can refer to this analysis to get a clearer picture of SOL movement.
However, it should be noted to some extent that SOL prices are still dominated by market sentiment. The movement of Bitcoin (BTC) and Ethereum (ETH) will affect its value.
