Solana (SOL) has been making a lot of headlines, and the coin continues to shine despite the market correction.
Solana has been booming in popularity lately. It’s been growing more and more popular among crypto investors, and this has a result in the fact that it’s threatening the more established crypto assets.
The digital asset management company CoinShares notes that Solana is seeing more inflows than Bitcoin and Ethereum during the week, which ended on September 13th.
During the past period, when the crypto market has been seeing a significant correction, Solana defied the trend.
SOL in the crypto market
At the moment of writing this article, SOL is trading in the green and the coin is priced at $162.72.
The digital asset is up by more than 16% in the past 24 hours.
The price of this digital asset surged a lot and recorded close to $50 million in inflows compared to Bitcoin’s $0.2 million and Ethereum’s $6.3 million.
“During last week’s price falls, Solana’s price was a stalwart, outperforming a basket of the top 10 digital assets by 34%, having risen 24% week-on-week. This was reflected with inflows, dwarfing any other digital asset, totaling almost US$50m.”
As Cointelegraph notes, SOL’s price extended its slide recently as a major network outage over the past week hit traders’ confidence as we already revealed.
“The SOL/USD exchange rate fell up to 13.27% to its intraday low of $133.53 in a corrective trend that began after it topped out near $221.38 on Sept 9,” according to the notes revealed by the online publication.
They continued and explained that as a result, SOL’s price has crashed by almost 40% since its all-time high last week – but it’s also important to note that it tripled its value in the past 30 days.
In the recent analysts that the online publication made, it’s been explained the reasons for which SOL/USD could reach $250.