Solana (SOL) has recently managed to touch its <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="nofollow noopener">ATH</a>, $183.67, as the cryptocurrency noted a surge of 14.71% in just 24 hours and attaining the position of seventh-largest cryptocurrency in the market. The latest surge in the price of Solana has increased the market capitalization to $53.41bilion.
<h2>Solana (SOL) Crosses $184 Mark, Creates Another ATH</h2>
Well, the <a href="https://www.cryptoknowmics.com/news/solana-overtakes-dogecoin-to-become-seventh-largest-cryptocurrency/">notable rise</a> in the price of Solana (SOL), 70,632%, is a year’s return provided by the digital assets and it’s not much late from the time of the launch of the coin when its value was not appreciated.

Formerly developed by the employees of Qualcomm, Solana claims a raft of innovations that lower transaction times, raise capacity and decrease the costs to a fraction of a penny per transaction.

Talking about the main attraction of this asset, it is a proof-of-history, which means, it is a novel algorithm that authenticates transactions by making use of a cryptographic clock to drastically deduce whether someone is able to fund it. 

The rise of Solana (SOL) has come at a time when the crypto market is desperately searching for a smart contract-enabled blockchain that has the potential to offer high throughputs at a low cost. The competitor of Solana, Ethereum, is lacking the potential of Solana, as it has really high fees and time-taking transactions.

In addition to this, it should be noted that the latest all-time high of Solana coincided with the launch of an NFT marketplace on FTX.
<h2>Other Coins Imitating Solana’s Spike</h2>
Witnessing the rise in the price of Solana, other coins in the market have started to gain similar values to Solana.

Bitcoin (BTC) managed to climb the level of $51,908, hours before El Salvador <a href="https://www.cryptoknowmics.com/news/el-salvador-buys-400-bitcoins-a-day-before-legalizing-the-currency/">adopted</a> the currency as its national currency. On the other side, Ethereum was roaming around the levels of $4K, as the NFT market is continuing to rise.

Solana (SOL) Surges 14% Again, Attains New ATH

Solana (SOL) touched its ATH, $183.67, as the cryptocurrency noted a surge of 14.71% in 24 hours and attained the position of seventh-largest crypto.

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.

Solana (SOL) Surges 14% Again, Attains New ATH

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