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Solana (SOL) has continued its seemingly unstoppable surge and is now trading for more than $50 per coin. The seventh biggest digital asset is booming so much, it’s not too far from overtaking USDC in terms of market capitalization. At the time of writing, SOL was priced at $50.61, a nearly 9% rise over the past 24 hours. In the past week, it’s up 24%. Experts spoke to Decrypt this week and last about SOL’s comeback, attributing it to a combination of short sellers and interest from major players. Lawyers mentioned SOL at ex-FTX boss Sam Bankman-Fried’s criminal trial last month, leading to a short squeeze. Despite its recent growth, SOL is still over 80% below its November 2021 all-time high of $259. Bitcoin, the biggest digital asset, only yesterday hit an 18-month high on news that the U.S. Securities and Exchange Commission might finally approve a spot crypto exchange-traded fund for American investors. This is good news for the crypto market, with every major coin and token up over a seven day period. #Solana #SOL #Crypto #CryptoNews #Bitcoin
You can read more about this topic here: Decrypt: Solana Touches $50 Per Coin While Tron and Optimism See Gains
