- The cryptocurrency market has been relatively quiet, with most major coins trading sideways or slightly down. However, Solana stands out with a nearly 5% rise over the past day.
- Solana is currently trading at $154, marking a weeklong gain of over 12%, outpacing the gains of Bitcoin and Ethereum.
- Notably, Solana’s network has seen a surge in new tokens deployed via its SPL standard, setting a new all-time record.
Amid a quiet cryptocurrency market, Solana emerges as a notable exception with a 5% rise, outpacing Bitcoin and Ethereum. The Solana network also experiences a surge in new token deployments, setting a new record.
Solana Outperforms Major Cryptocurrencies
Solana, currently trading at $154, has seen a weeklong gain of over 12% according to data from CoinGecko. This performance stands in contrast to the broader cryptocurrency market, which has been relatively quiet with most major coins trading either sideways or slightly down. Bitcoin, for instance, is down over 1% at a price of $63,650, while Ethereum is down over 2% to $3,092 at the time of writing.
Surge in New Tokens Deployed on Solana Network
In addition to its impressive price performance, Solana’s network has also seen a surge in new tokens deployed via its SPL standard. On Saturday, a record 14,648 new tokens were deployed on Solana, according to data from Solscan. This trend has been consistent over the last two weeks, with at least 10,000 new tokens being deployed on the network each day.
Other Notable Performers on Solana Network
Among the top 100 coins by market cap, a couple of the biggest gainers are also deployed on Solana. Jupiter’s token, JUP, is up 6% today to a current price of $1.14, while meme coin Dogwifhat (WIF) has risen nearly 5% to $3.43.
Conclusion
In a relatively quiet cryptocurrency market, Solana has emerged as a standout performer, both in terms of price performance and network activity. With a weeklong gain of over 12% and a record number of new tokens deployed on its network, Solana continues to demonstrate its potential in the cryptocurrency space. As the market continues to evolve, it will be interesting to see if Solana can maintain this momentum.
