Solana (SOL) and Solana-based tokens continue their upward trajectory, with substantial growth, while NFT sales on the network surpass those on Ethereum.
SOL sustained its positive momentum into Friday, posting double-digit gains and reaching a new 19-month peak at $73.85. Although SOL is still below its all-time high of nearly $260 in November 2021, the current value reflects a significant recovery from its low point of around $8 in late 2022. As of the latest update, SOL sits just above $73, marking a 13% increase in the last 24 hours, according to CoinGecko.
Simultaneously, BONK, the leading meme coin on Solana, extended its impressive surge, reaching a new all-time high of $0.00001314 early Friday. Even with a slight dip to $0.00001230 at the time of writing, BONK has recorded a 24% gain in the past 24 hours and has tripled in value over the last seven days. In the past month, BONK’s value has surged by 982%, propelling the token into the top 100 cryptocurrencies with a market cap of $747 million.
Recipients of Thursday’s Jito airdrop also experienced significant gains, as the Solana DeFi platform’s new JTO token saw a 72% increase in the past day, reaching $3.35 per token.
Solana’s vibrancy extends to its NFT collections, with projects like Mad Lads and Tensorians witnessing notable price increases. Notably, Solana’s collective NFT trading volume has now surpassed that of Ethereum, traditionally the leading chain for volume and valuable projects.
In the last 24 hours, Solana NFTs recorded $14.8 million in trades, outpacing Ethereum’s $13.9 million. Solana’s trade volume has surged by about 92% in the past day. Tensorians, linked to the Tensor NFT marketplace, emerged as the top traded project during this period, generating over $4 million in sales. Tensor currently dominates Solana with a 76% market share, while Magic Eden, the previous leader in the Solana space, holds a 16% share.
The flourishing Solana ecosystem, marked by rising token values, NFT sales, and DeFi activities, showcases the platform’s growing prominence in the crypto space.
