SOL, the token underpinning the Solana blockchain, has spiked above $100 for the first time ever on Monday to continue the momentum that saw the asset’s price grow by 38.7% over the last week.
At its peak, SOL hit $101.42 according to data from CoinGecko, backtracking slightly by press time. With trading volumes over $2.2 billion and the market capitalization just a whisper shy of $29 billion, SOL is now the eighth-largest cryptocurrency.
Overall, the token has soared by more than 201% in the past month.
Solana, which mines its SOL token using a proof-of-stake (PoS) consensus mechanism, is positioned to compete with Ethereum, the world’s most popular smart contracts platform, opening multiple opportunities in the world of decentralized finance (DeFi) and non-fungible tokens (NFTs).
The network boasts approximately 1,000 live transactions per second, with developers claiming that this number could go as high as 50,000 at peak times. The transaction fees are also much cheaper than t
Źródło: https://decrypt.co/79752/solana-crosses-100-milestone-becomes-8th-largest-cryptocurrency
