The market value of Solana, a cryptocurrency, increased to $8.1 billion in Asia in November 2021 from $77.9 billion the previous year. Over the previous 24 hours, Solana’s price went up by 10%, to $183.55. When it reached its peak price in November 2021, it was $259.96.
As per Benjamin Stani, Director of Market Development at Matrixport, the current memecoin chain is accountable for the remarkable market valuation statistic.
He believes that during the last 24 hours, the markets have validated Solana’s blockchain-focused meme currencies, as evidenced by the 20% increase in Dogwifhat, the 35% increase in PopCap, and the additional 10% increase in Bonk’s.
According to Solana, Dogwifhat, and Bonk, which are focused on Solana, are the first non-Ethereum meme tokens to surpass the billion-dollar market valuation threshold. Ultimately, it comes down to using Solana even more rather than the non-EVM chains.
According to Clay Robbins, a co-founder of the Colosseum, meme coins are enjoying their moment in the spotlight on Solana due to supply issues.
A little time ago, the Solana network refreshed the statistics regarding the daily count of new addresses added to the blockchain. When viewed as a seven-day total, the number was 738,040.