Solana’s SOL has surged to a new all-time high of 0.05797 against Ethereum, according to Tradingview data.
This price performance follows its recent surge above the $200 mark for the first time since November 2021, coinciding with the blockchain record-breaking network activity.
The price uptick has propelled Solana’s market capitalization to an unprecedented high of more than $91 billion, cementing its position as the fourth-largest digital asset by market cap.
As of press time, Solana was trading for $207, according to CryptoSlate’s data.
Solana DEX volume
Solana’s surge in value finds its roots in robust network activity, driven notably by the prevailing memecoin fervor.
DeFillama data reveals that Solana’s decentralized exchanges (DEX) trading volume stood at approximately $2.8 billion during the past day. This figure dwarfs the number recorded by Ethereum-based DEX during the same time frame.
This is not the first time…
