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The Rise of Solana in the Cryptocurrency Charts
At the pinnacle of the cryptocurrency charts, a tranquil Monday morning has settled in, with most of the top coins by market capitalization exhibiting lateral movement or slight declines. However, amidst this placidity, Solana stands out as a beacon of vigor, registering a remarkable surge of nearly 5% over the past day.
Solana’s current trading price stands at $154, showcasing a stellar weeklong ascent of more than 12% as reported by figures from CoinGecko. Despite enduring a turbulent month like many other cryptocurrencies – oscillating between a zenith of $184 and a nadir of nearly $120 – Solana has demonstrated resilience by resuming an upward trajectory over the last week, surpassing the growth rates of Bitcoin and Ethereum.
Bitcoin and Ethereum’s Performance
Comparing the recent performance of Bitcoin and Ethereum over the last 24 hours, Bitcoin is situated at $63,650, reflecting a decline exceeding 1%, whereas Ethereum has retreated by over 2% to $3,092 at the time of this composition. Looking back over the past week, Bitcoin has witnessed a marginal upswing of 1.3%, whereas Ethereum continues to grapple with a 2.6% downturn.
Noteworthy Gainers on Solana
Expanding our purview to the top 100 coins by market cap, several notable gainers have found a home on Solana’s network. JUP, the native token of the decentralized exchange aggregator Jupiter, has surged by 6% today, reaching a current valuation of $1.14. Furthermore, the meme coin Dogwifhat (WIF) has also experienced an uptick of nearly 5%, hovering at $3.43.
Solana’s Resurgence and Token Deployment
Solana’s resurgence has been further accentuated by a proliferation of new tokens deployed via the network’s SPL standard. This flurry of activity is evidenced by the deployment of 14,648 new tokens on Solana on a single Saturday, setting a new all-time record, as per data from Solscan. Remarkably, each day over the past two weeks has witnessed the introduction of at least 10,000 new tokens on the Solana network, underscoring the network’s allure and dynamism.
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