Solana has reached a new ATH as it managed to climb to the $157 level. SOL grew by 14.71% in 24 hours, which makes it now the seventh-largest crypto with a market cap of $45.8 billion.
What makes things even more impressive is the fact that it represents an increase of 70,632% compared to a year and a half ago when Solana was just released and there was little appreciation for its worth.
Solana has several benefits that deem it attractive such as shorter transaction times and increased capacity. Its innovations also promise to lower costs to a fraction of a penny for a single transaction. Of course, proof-of-history is also highly notable and deserves to be named as well.
This increase in Solana’s popularity comes just as the market is looking for a smart contract-enabled blockchain that comes with high throughputs at a low cost. Ethereum was supposed to do that, but even after its new update, transactions still take a long time and can cost hundreds of dollars.
This ATH of Solana also coincides with the release of an NFT marketplace on FTX that allows users to trade NFTs across Solana and Ethereum.