Solana (SOL) will be one of the stars of the crypto market in 2021. The project has been making a lot of headlines, and it continues to do great.
SOL managed to surge more than 15,000% in 2021
Forbes is the latest popular publication to address the successful path that SOL’s price is on.
The price of SOL has skyrocketed this year, and this managed to generate widespread visibility as its gains surpass those of many other digital currencies.
By now, the digital asset was up roughly 15,300% since the start of this year; additional Messari figures reveal as Forbes notes in their article.
Scott Melker, who is a well-known crypto investor and analyst who is the host of The Wolf Of All Streets Podcast stated the following:
“Solana is a legitimate competitor to Ethereum, with lightning fast transactions at a fraction of the price. The rapid increase in value is largely a result of crypto gaming and successful NFT launches.”
He continued and explained the following:
“Developers and projects have been building on Solana for years, which is manifesting in an explosion of price and adoption.”
Institutional investors are pouring money into Solana
Not too long ago, we were revealing that the digital asset manager CoinShares is detailing a shift in the way institutions are allocating capital to Bitcoin and the altcoin markets.
CoinShares made sure to report an increase in inflows to smart contract platforms Ethereum (ETH) and Solana (SOL).
“After three consecutive weeks of outflows, Ethereum broke the streak with $16,600,000 in inflows. Solana is also on the rise, recording more than $14,700,000 in inflows compared to $8,000,000 last week.”
At the moment of writing this article, SOL is trading in the green, and the coin is priced at $238.
CoinShares also mentioned PolkaDot:
“Polkadot (DOT) burst onto the scene, recording $6,200,000 in inflows compared to $400,000 the week before. Cardano (ADA) remained steady at $5,000,000 compared to a previous total of $5,300,000.”
Stay tuned for more news.