{"id":251032,"date":"2021-05-16T17:49:11","date_gmt":"2021-05-16T14:49:11","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/solana-pumps-to-all-time-high-as-bitcoin-altcoins-lag\/"},"modified":"2021-05-16T17:49:11","modified_gmt":"2021-05-16T14:49:11","slug":"solana-pumps-to-all-time-high-as-bitcoin-altcoins-lag","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/solana-pumps-to-all-time-high-as-bitcoin-altcoins-lag\/","title":{"rendered":"# Solana pumps to all-time high as Bitcoin, altcoins lag"},"content":{"rendered":"

“# Solana pumps to all-time high as Bitcoin, altcoins lag <\/strong>”<\/p>\n

Solana\u2019s native SOL token is charting new highs on Sunday, gaining in U.S. dollars and in Bitcoin (BTC) on the back of growing network adoption and a key technical breakthrough.\u00a0<\/p>\n

The SOL token peaked at $52.42 on Sunday, according<\/a> to TradingView, having gained 24% over the 24-hour trading cycle. That marked a new all-time high for SOL and the first definitive break above the psychological $50 level. As Cointelegraph previously reported, Solana rallied to a high of $49.99 on May 2 before losing some of its momentum. The $50 target had remained elusive over the previous two weeks.\u00a0<\/p>\n

At the time of publication, SOL was trading above $51.00.<\/p>\n

Solana has been a positive performer for much of 2021. Chart: TradingView<\/em><\/figcaption><\/figure>\n

At current values, Solana has a total market capitalization of $13.9 billion, placing it in 15th spot on the crypto market cap rankings, according to Coingecko. <\/p>\n

Solana was vastly outperforming Bitcoin and Ethereum (ETH) on Sunday, as the two largest cryptocurrencies remained subdued following a major market meltdown at the hands of Elon Musk coupled with\u00a0deteriorating investor sentiment. SOL was up 24% in Bitcoin comparative and had gained 28% against ETH over the previous 24 hours. <\/p>\n

Bitcoin price was little changed on Sunday. Ethereum, meanwhile, was down 3.2%. The altcoin market was down over the 24-hour period.\u00a0<\/p>\n

Solana has quickly emerged as one of the most active blockchain networks in recent months. The network recently brought in $40 million in strategic investments through the Solana Foundation grants program to advance its protocols and decentralized app<\/a>lications. Over 50 market-ready projects have launched on Solana since March, with a large concentration of DeFi applications. <\/p>\n

As Cointelegraph previously reported, demand for the SOL token is rising as more Solana-based projects issue airdrops to existing users. The hunt for cheaper Ethereum alternatives has also been cited as a potential reason for the recent growth in Solana\u2019s network activity. <\/p>\n