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Solana gains 5%, while Bitcoin and Ethereum record slight declines
Solana gains 5%, while Bitcoin and Ethereum record slight declines
While most major cryptocurrencies are trading sideways or slightly lower, Solana (SOL) stands out with an increase of almost 2.28% compared to the last day. According to data from CoinMarketCap, Solana is currently trading at $155.03, marking a weekly gain of over 20.36%. Despite a turbulent month that saw its value go from a high of $184 to a low of nearly $120, Solana has seen steady growth over the past week, outpacing the gains of Bitcoin and Ethereum.
In contrast, Bitcoin remained unchanged over the past 24 hours, trading at $63,618, while Ethereum fell slightly by 0.84% to $3,075. Over the past week, Bitcoin has seen a modest increase of 4.05%, while Ethereum has risen by 2.20%.
Among the top 100 coins by market cap, a couple of notable gainers are found in the Solana ecosystem. The sign of Jupiter, JUP, which serves as a decentralized exchange aggregator, has risen 25% over the past week to hit a price of $1.14. Furthermore, it is the leading Solana-based memecoin Dogwifhat (WIF) has seen an increase of more than 35% in the last 7 days, reaching $3.28.
Solana’s recent resurgence coincides with a surge in new tokens being distributed on the network using the SPL standard. On Saturday alone, a record 14,648 new tokens were distributed on Solana, as reported by Solscan. This trend has continued over the past two weeks, with at least 10,000 new tokens introduced to the network every day.