Solana Sparkles 45% As BONK Soared Up 1000% Last Week

Key Points:

• Solana (SOL) was one of the biggest gainers in the past seven days, with the coin increasing by about 45% due to the Solana-based meme coin, BONK.
• SOL has had an incredible 37.25% growth during the last week, while the cryptocurrency asset has seen an 18.89% increase over the last month.

According to Investopedia, Solana (SOL) has been named one of the top cryptocurrencies to watch this week. SOL surpassed industry leaders Bitcoin and Ethereum, as well as all other major crypto assets in the top ten in terms of market capitalization.

This is no surprise given that the digital asset, which was dragged all the way down to $9 at the end of December, managed to boost its value by 45% in the previous seven days.

Investopedia indicated that Solana (SOL) was one of the biggest gainers in the past seven days, with the coin increasing by about 45%. This was partly due to the fact that the Solana-based meme coin, BONK, took the crypto community storm, with its own valuation increasing by 1000% in the last week.

After the collapse of the FTX cryptocurrency exchange platform, where Solana Network had considerable exposure courtesy of the $3.24 million shares of common stock and 134.54 million FTT tokens it held, the company is now prepared to move on and rebuild.

After the first 10 days of January 2023, SOL appears to be headed in the right direction because a simple glance at its intraday performance shows that its present upswing is still ongoing.

Coincu data shows that at the time of writing, Solana is trading at $16.17 and had increased by roughly 12.5% over the previous 24 hours.

SOL has had an incredible 37.25% growth during the last week, while the cryptocurrency asset has seen an 18.89% increase over the last month.

It’s crucial to remember that this occurred after the cryptocurrency had a brief corrective phase that caused it to drop below the $17 level. Subsequently, Solana reached a high of $17.54 just before the trading sessions on January 9 came to an end, but it was unable to maintain that position.

Overall, SOL is still bullish, according to price research metrics like the Relative Strength Index (RSI), and may shortly challenge the price range between $16.5 and $18.2.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Thana

Coincu News