Gaining around 58% in the previous 7 days, the price of the native token of the Solana blockchain, SOL, reached a new all-time high surging over $64.
The coin ranks 11th with over a $17.6 billion market cap. So, the coin is almost catching up with Uniswap's UNI, which market cao currently stands at $17.9 B.Solana was released in March 2020. Its aim is to provide an alternative, scalable blockchain for decentralized applications' development.
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The number of projects built on Solana has been rising.Among the recent projects was the DEX Mango Markets which is focused on cross-margin trading. On August 11, the platform announced raising $70M in MNGO token sale.
Another reason that sureluy has its impact on the rise of SOL is the NFT project Degenerate Ape Academy's launch on August 15. The NFT collection of 10.000 Apes saw a high, being sold out in 8 minutes.