According to Decrypt, it seems that the blockchain Solana (SOL) is joining bitcoin (BTC) and to ether (ETH) at the high party of cryptocurrencies.
The native token of the blockchain Solana – which ranks sixth in market capitalization at the moment – saw a 27% weekly increase.
With this rapid growth, the token is heading back to its historic high of $213.47, achieved on September 9th. Right now, SOL is being traded at around US$202.
For Decrypt, a significant part of Solana’s growth can be attributed to the blockchain’s quest for greater market share in decentralized finance (DeFi, the acronym in English).
Yesterday (21), Solana registered a record $12.7 billion in total blocked value (TVL), which represents the amount of money in circulation on platforms that use Solana and which impacts the price of the token.
Solana was nicknamed “Ethereum killer” (“Ethereum Killer”, in free translation), as his blockchain is one of the great competitors of the network created by Vitalik Buterin, due to its ability to record more transactions in less time, in comparison with Ethereum.
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