From Solana Saga Phone Buzz to Surpassing XRP in Market Capitalization
Key Takeaways
- Solana (SOL) has achieved a significant milestone in its growth by surpassing $84 in market capitalization, surpassing XRP.
- Along with airdrops and token listings, Saga phones played a pivotal role in fueling SOL’s incredible rally.
- SOL’s recent price rise reflects the robustness of the network and its ability to continue to attract attention, establishing Solana as a strong contender in the cryptocurrency space.
Solana (SUN) Market capitalization has surpassed XRP. Reach over $84 On December 20, it increased by 13.8%. The surge is It made SOL the fifth largest cryptocurrency. As of writing.
This surprising rise has sparked discussion: Solana’s potential to challenge Ethereum’s dominance Because it offers faster and more cost-effective transactions.
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Several factors have driven SOL’s recent price surge. for example, meIncreased network activity and successful SPL token launch It has played a decisive role.
Solana initially received more attention on December 7th. When major exchanges list SPL token JITO. JITO’s market capitalization exceeded $300 million in a short period of time, which was very impressive.
However, the current rise in SOL price can be partly attributed to the enthusiasm surrounding the airdrop. Solana Sagaphone sold outThey sell for up to $5,000 on the secondary market.
Each Saga phone received 30 million BONK tokens.It exceeds the $599 price tag. Coinbase’s The listing of memecoin BONK on December 14th was definitely a turning point.
Merchant Evans 6 highlighted Solana’s user-friendly approach is essentially: Solana’s emphasis on mobile accessibility is exactly what cryptocurrency projects need..
But SOL’s rally extends beyond memecoin. Expanding the decentralized application (dApp) ecosystem. Three weeks ago, Solana’s total fixed value (TVL) was $654 million, and it has now grown by 96% to $1.28 billion, outpacing its competitors.
The inflow of deposits into the Solana network is likely to be There has been a noticeable increase in activity within dApps.875,250 unique active addresses interacting with each other.
Overall, Solana’s recent surge appears sustainable, because it does not rely on just a few airdrops and token launches. The network’s ability to handle increased demand without downtime was recognized.
Ain is a senior cryptocurrency researcher. Her vast experience with content related to cryptocurrency and blockchain technology allows her to identify key information that should be presented to learners and ensure the validity of the data collected.
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