Solana (SOL) with impressive achievement against Ethereum

TL;DR

• Solana price rise: SOL price recently rose to almost $75, a peak last seen in May 2022, and currently sits at around $71.
• nft sales volume growth: Solana briefly surpassed ethereum in nft sales volume growth, with a significant weekly increase of 53%.
• Bonk Inu's exceptional performance: Solana-based memecoin Bonk Inu saw a 400% increase in price, surpassing other popular memecoins.

SOL performs better than eth in this aspect

The sixth-largest cryptocurrency by market cap, Solana (SOL), has been on the rise lately, with its price skyrocketing since the start of Q4 2023. Last weekend, it hit nearly $75 (according to data from CoinGecko ), a peak last observed in May 2022. In the following days, SOL declined slightly to its current level of $71 due to the ongoing market correction.

In addition to experiencing rapid price growth, the asset also outperformed several of its rivals in terms of transaction volume and other metrics.

According to CryptoSlam, Solana's non-fungible token (nft) sales volume has marked a larger weekly increase than ethereum's. The figure with the first one has reached almost $68 million, 53% higher than the data observed a week before.

While ethereum nft sales volume over the past seven days amounts to almost $100 million, it actually represents a 5% drop over a week. Furthermore, Solana briefly surpassed his rival on December 8 when he witnessed $16 million of such sales versus $11 million for the other blockchain protocol.

Solana's BONK stole the show

Solana may have caught the attention of some investors, but its memecoin Bonk Inu (BONK) has certainly taken center stage recently.

The price of the token has skyrocketed 400% month-on-month, reaching an all-time high on December 9. Furthermore, its market capitalization is currently around $800 million, positioning the asset as the 81st largest in the entire crypto space.

BONK's impressive rise could be attributed to Solana's bullish trend and the hype surrounding memecoins. However, some of the leading tokens of that type, such as Dogecoin (DOGE) and Shiba Inu (SHIB), have failed to reach the speed of Bonk Inu, recording more modest peaks of late.

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