Solana is once again making waves in the crypto world, and its native coin SOL is reaping the benefits. The price of SOL is up by 9% today, hitting $44.41. Over the past month, it has grown in value by 88%, according to CoinGecko, making it the top performing major cryptocurrency. This shouldn’t come as a surprise as Solana is seen as a competitor to Ethereum, offering cheaper and faster transactions for those wanting to build or use lending protocols, games, and other applications that utilize blockchain technology. Big players such as Visa, Shopify, and developers are beginning to take notice, driving up the price of SOL even further. Recently, Solana’s payment protocol Solana Pay integrated with Shopify and Visa announced that it had chosen Solana’s blockchain for its stablecoin ambitions. Additionally, an overblown fear of FTX selling off large amounts of SOL triggered a short squeeze, further pushing up the price of the coin. The Solana community’s annual conference, Breakpoint, also took place at the end of October, leading to an even bigger rally. The question now is, will the price of SOL last? #Solana #SOL #Cryptocurrency #Crypto #DeFi
You can read more about this topic here: Decrypt: Ethereum Rival Solana Is Back—Experts Say It’s No Surprise
