Once dubbed the “Ethereum killer,” Solana has surprised everyone by rising above $100 in a Christmas rally that has revived the excitement in the crypto market.
Solana demonstrated its tenacity and market dominance by settling at $115.6, following a celebratory peak of $126.
SOL saw an amazing 53% increase in just seven days, which was its biggest jump since December 2021 as well. The SOL/ETH price graph showed an extraordinary rise, reaching 0.051 ETH per Solana token, despite a slight decline.
Experts are talking about Solana’s increasing trajectory, which suggests that in the current bull market, it could surpass Ethereum’s performance.
With its comeback, Solana surpassed other crypto and shot to the top of the market capitalization chart, igniting new discussions about its superiority.
The hype surrounding meme coins and airdrops, which coincided with the release of Solana’s phone and the Solana saga, is responsible for the recent increase.
The Solana network added a record-breaking 6.8 million unique addresses in December, making it an incredible month overall. This milestone exceeded the previous record high of 6.6 million addresses, which was noted in May 2023.
Solana is positioned as a major player in the continuous bullish trend in the crypto market thanks to its outstanding performance and expanding ecosystem, which show a renewed interest in and confidence in blockchain technology.
