Solana Becomes More Valuable than XRP

Solana (SOL), one of the largest digital currencies in the world, is now more valuable than XRP. SOL touched an all-time high of $214 on Thursday after the surge of more than 22% in the last 24 hours.

According to Coinmarketcap, Solana is the 6th largest cryptocurrency in the world with a market cap of over $60 billion. SOL’s market cap is more than Dogecoin (DOGE), XRP, Polkadot (DOT), Uniswap (UNI), USDC and Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Cash (BCH).

Solana is currently trading above $200 with a crypto market dominance of over 3%. SOL jumped by more than 80% within the last seven days. During the latest crypto Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term on 7 September, Solana touched a low of nearly $130 but recovered quickly and reached another all-time high on Thursday.

SOL remained the best-performing digital asset among the top 10 in 2021. The world’s 6th most valuable cryptocurrency started this year at a price level of just $1.5. Solana’s price has jumped by approximately 13,900% in 2021 so far. However, XRP saw gains of nearly 400% this year.

Solana Investment Products

During the recent bullish rally in Solana, institutional interest for SOL has increased sharply since the start of August 2021. Last week, Solana investment products attracted record inflows of $13.2 million. “Solana remains the favorite with weekly inflows totaling US$13.2m last week, doubling its total inflows year-to-date. While AuM has grown from US$15m the previous week to US$44m last week,” CoinShares, Europe’s largest digital asset manager, mentioned in its latest digital asset weekly fund flows report. Earlier this month, Solana’s total market cap jumped above $40 billion and SOL became more valuable than Dogecoin.

The crypto market saw immense volatility this week as Tuesday’s $400 billion market sell-off triggered panic among retail and institutional investors. However, the market recovered quickly and added nearly $200 billion in the last 24 hours. At the time of writing, the total market cap of digital currencies stands at around $2.1 trillion.