“Solana Soars: Price Doubles This Month, BONK Meme Token Spikes Over 3,000%!”

Cryptocurrency solana has been the subject of much attention in recent weeks. this month, the price of solana has more than doubled, rising 58 percent to $23.70 in the last seven days. this surge pushed solana briefly ahead of polygon matic to become one of the top ten cryptocurrencies by market cap. last weekend, solana posted an impressive 21 percent jump in a single 24-hour period. this spike was partially due to the buzz surrounding bonk, a solana-based meme token, which saw a 3,300% spike in the first week of 2021.

Activity around solana began at the turn of the new year, when the price of sol reached a seven-day high. this was followed by the planned migration of helium to solana, which caused the native token value of helium to fall. the migration was praised for solana’s much-celebrated transaction speed and the fact that development work on solana will be “quite a lot easier.” however, a subsequent five-trillion token burn didn’t keep bonk on an upward trajectory, causing its price to slide 69 percent last week.

Had a tumultuous 2020, collapsing more than 80 percent over the course of the year. by the end of the year, solana had dropped out of the top twenty coins, per coingecko data, and was closing out the year down 94 percent, hitting a two-year low of $8.17. the recent surge in solana’s price can be attributed to the buzz around bonk, the migration of helium to solana, and the fact that development work on solana will be easier.


By Evey Lovelace

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