New Delhi: Solana blockchain native token SOL surged over 35% in the past week to hit a new ATH of $65 on Monday. It is reported that the price jump was triggered by the sale of an NFT art collection on Solanart.
SOL is among the best performing crypto in the last 24 hours and has already been up by 36%. This rally has helped the coin to jump from the top 30 to the top 10 cryptocurrencies by market capitalization.
The rally crossed the $60 threshold for the first time ever as the token was worth just $2 in January.
Founded in 2017, SOL is the native token of the Solana blockchain and is popular in the crypto market as one of the “Ethereum killers.” The blockchain processes nearly 50,000 transactions per second. The project claims to offer a faster and efficient alternative. According to solanabeach.io, SOL handles 6,110 TPS.
The digital art collection titled “The Degenerate Ape Academy” went on sale on Solanart this weekend and in just 8 minutes of its launch, the collection sold 10,000 of its apes.
We sold out in 8 minutes. Holy Ape.
No the drop was NOT smooth. It was shitty at best. We did A LOT wrong and the team was overwhelmed with the wave that hit us in the past week. It was exponentially bigger than we thought. Please ape rage in the comments /1 pic.twitter.com/HCccxoSoQn
— Degenerate Ape Academy (@DegenApeAcademy) August 15, 2021
SOL’s last ATH was $56.20 and with a surge in the demand of the NFT collection, the coin surged over 35% and hit $65.
$SOL just hit a new high…
$100 is coming quick pic.twitter.com/oU0syu4cPu— Nick Core (@Crypto_Core) August 16, 2021
