Solana’s upward momentum continued unabated through Friday. SOL posted double-digit gains, while Solana’s flagship meme coin, BONK, continued its surge to another all-time high. Even amid price fluctuations, Solana NFT trading volume is much higher than Ethereum.
SOL soared to $73.85 on Friday morning, marking a 19-month high for Solana’s native cryptocurrency. Although still far from its all-time high of nearly $260 in November 2021, SOL has seen a dramatic rebound after falling to nearly $8 in late 2022. As of this writing, Solana is sitting at just over $73, up 13%. Last 24 hours per CoinGecko.
Meanwhile, Solana’s top meme coin, BONK, has continued its chart rise in recent weeks, hitting a new all-time high of $0.00001314 early Friday.
BONK, which fell to $0.00001230 at the time of writing, has recorded a 24% gain in the last 24 hours and has tripled in price over the past 7 days. Over the past month, BONK has risen a whopping 982%, putting the token in the top 100 cryptocurrencies by market capitalization for the first time. BONK’s current market capitalization is $747 million.
Meanwhile, those who received Thursday’s Zito airdrop are sitting even prettier. Solana DeFi platform’s new JTO tokens have been distributed to thousands of early users, with airdrops totaling $225 million as of the end of Thursday. However, the price has now risen 72% over the past day to $3.35 per token.
The buzz around Solana also extends to its NFT collection.
Projects like Mad Lads and Tensorians have seen their prices rise dramatically by several orders of magnitude in recent weeks. And now the total trading volume of Solana NFTs has surpassed that of Ethereum, the leading chain by volume, which generally has the most valuable projects.
Based on data from CryptoSlam, over the past 24 hours, Solana NFTs have recorded $14.8 million worth of transactions, compared to roughly $13.9 million worth of transactions on Ethereum. This is due to a significant increase in Solana trading, with trading volume increasing by approximately 92% over the past day.
Tensorians, associated with the Tensor NFT Marketplace, is the most traded project, with over $4 million in revenue during the period.
Tensor, which rose to prominence earlier this year, now dominates Solana with around 76% market share in the last 24 hours, based on data from Tiexo. Magic Eden, a multi-chain marketplace that previously owned the Solana space, had about a 16% share during the period.
Edited by Stacey Elliott.
