• bitcoinBitcoin$24,513.001.29%
  • ethereumEthereum$1,992.703.29%
  • ElrondElrond$65.38-0.44%

While the Market Stagnates, Solana Sets New ATH

We may experience a general crypto stagnation, but Solana doesn’t seem to care. The coin, which is the 13th-largest by market cap, has grown by 14% since yesterday and 55% during the previous week. The coin even established a new ATH of $43 today. Currently, one coin is worth $41.81, while the entire supply has a market cap of $11.2 billion.

The growth comes as a result of a series of small announcements that made it easier to trade the coin. Not only is the coin powering a high-speed, low-cost blockchain, but derivatives exchange dYdX has also listed fee-free Solana-USD perpetual derivatives contracts with up to 10x leverage.

Solana was released in March 2020 following three years of development by the Solana Foundation, a Swiss company. At the beginning of 2021, Solana was worth $1.6 – now it has increased 26x to the mark of $41.

Solana doesn’t seem to be affected by the crypto market crash that happened at the end of the previous week when Bitcoin fell by around 10% from $54,000 to $48,000.

The crash came as a result of news that Joe Biden wants to double capital gains taxes for rich Americans.

This was the second crash experienced by the crypto market this month.

Source: Decrypto.co

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