Solana (SOL) is experiencing a surge in value, prompting increased interest from traders. Today (November, 29) most digital currencies are performing favorably. However, Solana’s token (SOL), the Sixth largest cryptocurrency by market capitalization, leads the pack in the performance, boasting a 10.07% increase in market capitalization, accompanied by a staggering 48.08% (as per CoinMarketCap) surge in trading volume within the past 24 hours.
The price of Solana (SOL) saw an increase following a 12% surge in the price of the meme coin Bonk (BONK) yesterday. The rally in the price of Bonk is ongoing, having continued today with a 17.65% increase. This rally in BONK price could be due to its listing in crypto exchange KuCoin as BONK/USDT trading pair. BONK is a dog-themed coin based on Solana and is traded with the pair BONK/USDT.
Another contributing factor to the rise in Solana’s (SOL) pricecould be the generally positive sentiment surrounding Solana driven by impressive price performance over the past few months. The 80% price surge in last month further supports this rationale.