Solana (SOL) has joined the elite group of cryptocurrencies with a market capitalization exceeding $100 billion following a significant increase in its value over the past few days. This achievement places SOL among assets like Bitcoin, Ethereum, and Tether.
Solana's Growth and $100 Billion Market Cap
Solana's price today reached $212.66, the highest since November 2021. Over the last seven days, the token has gained more than 30%, as the entire crypto market experiences a surge partly driven by Donald Trump’s victory and the Federal Reserve rate cut. Solana is currently among the top-performing major cryptocurrencies on a weekly basis, surpassing both Bitcoin and Ethereum.
Analytical Forecasts and Expectations
Despite its recent performance, Solana has yet to surpass its all-time high of $260 set in November 2021. Analysts highlight that the current growth is largely driven by DeFi activity tied to memecoin trading. Solana is expected to reach new heights if its growth pace continues. Crypto analyst Bob Loukas noted in November that Solana has remained stable while other currencies falter.
Comparison with Ethereum and Other Networks
Despite its impressive performance, Solana's market cap is still significantly lower than Ethereum’s, which stands at $389 billion. In 2024, Solana leads all blockchain networks in transaction volume.
Solana continues to impress the crypto community with its achievements, and many are anticipating further growth in its value. Analysts see significant potential in the possible launch of an ETF and other future network developments.
