Solana has soared as it capitalizes on hype around SEC's dismissal of lawsuit against Ripple Labs executives
Solana (SOL) is fast becoming a major altcoin sensation considering its current price action. The digital currency is on a parabolic run with its price trading on spot exchanges at $26.40 amid an 11.31% growth rate overnight. This current Solana price performance is indicative of a broader push in the market but has seen SOL as one of the biggest recipients of an impressive revival
Solana (SOL) is fast becoming a major altcoin sensation considering its current price action. The digital currency is on a parabolic run with its price trading on spot exchanges at $26.40 amid an 11.31% growth rate overnight. This current Solana price performance is indicative of a broader push in the market but has seen SOL as one of the biggest recipients of an impressive revival.
Solana has now effectively pared off its losses and has extended its gains in the past seven days. At the time of writing, Solana is up by more than 23% in the past seven days, capitalizing on its massive inflow marked by trading volume that is up 150%, as over $838 million has shifted hands overall.
While Solana is one of the altcoin with an elongated drawdown from the last crypto winter, its bulls are notably fond of capitalizing on new market trends to their benefit. At this time, the trigger is the dismissal of the lawsuit levied on Ripple Labs' executives Chris Larsen and Brad Garlinghouse, a move that is broadly being described as a win for the entire crypto ecosystem.
This news has stirred not just a rally on Solana but the majority of the altcoins in the market, including XRP.
