Gradually beginning to compete with Ethereum
Altcoin SOL, based on the Solana blockchain, has risen 24.5% in value over the past seven days. At the time of writing, his rate has reached $ 110.33.
The capitalization of this cryptocurrency increased on Monday, March 28, to $ 35.864 billion.
In November last year, SOL reached its all-time high of about $ 260. Given that in May 2020 this coin was traded at about $ 0.505, the jump in its price is staggering.
Analysts attribute the rise in the crypto token to an increase in the number of blockchain users . At the end of last week, it rose by more than 10% in just one day.
The digital currency is aggressively gaining value amid reports of its network developers partnering with the Krafton team that created the famous PUBG game.
The publication of the major video game maker noted that Solana is one of the most productive and secure blockchains. Using it significantly improves the user experience of the gaming application.
Other game developers are also using the cryptocurrency blockchain, which is gradually beginning to compete with Ethereum.
Recently, the Grayscale Fund, focused on leading block networks, has invested up to 24% of its capital in SOL, which has also stimulated the appreciation of the digital currency.