The share of trading in the Solana cryptocurrency was able to reach a historical maximum, according to data from the analytical service CCData.
“Solana is proving to be the best performing asset, achieving a record market dominance of 5.54% for November (as of the 13th),” the analysts said.
On Saturday, November 11, SOL’s share peaked at 8.85% of total trading volume on centralized exchanges. This exceeds the previous high of 8.66% recorded in September 2021. On Wednesday afternoon, November 15, SOL was trading at $59.62.
The media is already calling the cryptocurrency “the rising star of October.” The beginning of the fourth quarter of 2023 was marked by a rapid increase in the value of Solana, which intends to challenge the dominance of ether. Since hitting the $8 floor, SOL’s price has risen more than 395%.
One of the growth factors for Solana is the influx of large capital. According to a report released by CoinShares on October 30, inflows have reached $98 million since the beginning of the year. Meanwhile, former CEO of cryptocurrency exchange BitMEX Arthur Hayes said that while he doesn’t like Solana, he did buy the coins, which have recently skyrocketed in price.
