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Solana (SOL) has been breaking records recently by achieving a great momentum in the blockchain industry. The SOL ecosystem has surpassed all other blockchains in daily net flow with a market cap of $116 billion. Additionally, over $280 million has been bridged to SOL ecosystem from other chains in the last seven days, with $230 million coming from Ethereum alone.
BREAKING: @Solana surpasses all other blockchains in daily Net Inflows. pic.twitter.com/jsCXufNKhy
— SolanaFloor (@SolanaFloor) November 18, 2024
Memecoins Drive Solana’s Growth
PNUT, the SOL ecosystem based memecoin, has hit staggering $1.9 billion market cap in a short time of being launched. This has been one of SOL ecosystem’s most unexpected contributors to its recent success in the rise of its small-cap memecoins.
This new achievement has drawn significant amount of attention from crypto industry. Memecoins like PNUT, WIF, BONK and POPCAT are playing a vital role in boosting the ecosystem’s liquidity, user activity and visibility.
Unstoppable Momentum: Can Solana Beats its ATH?
At present, the price of Solana token is $247.41 with a surge of 2.8% in the last 24-hours and a market cap of $117 billion.
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As SOL ecosystem is gaining momentum day by day, question that has been hovering within the crypto community is whether Solana can break its all-time high of $259.96 which was recorded approximately three years ago?
Analysts believe that with its current trajectory and growing traction of its ecosystem, there is optimism that this milestone could be surpassed by the end of the week-or even as soon as tomorrow.
As SOL ecosystem continues to break all records, its ability to maintain the momentum is the key to determining whether it can surpass its all time-high.
Solana’s expansion is substantial, riven by achievements and not just speculation. Its ability to attract institutional investors, deliver real-world use cases and capitalize over memecoins positions it as a blockchain to watch out for.
The coming days could determine whether SOL ecosystem can emerge as a long-term leader and if it surpass its current all-time high.