Solana is leading a bullish cryptocurrency market, with the price of the SOL token rising 41% today to a new record-high of $64.48, according to a report by Forkast on Monday.
- Other cryptocurrency top performances include Ripple’s XRP and Cardano’s ADA, which rose by over 63% and 51%, respectively, in the last week.
- Solana’s price has increased by over 64% in the last seven days, supported by the launch of Wormhole — a communication bridge between Solana and other major decentralized finance networks.
- The communication link allows existing projects, such as Terra, Ethereum, and Binance Smart Chain, to shift tokenized assets seamlessly across blockchains to benefit Solana’s high speed and low cost.
- SOL’s price increase of over 41% today is also potentially attributable to the successful launch of an NFT project housed on Solana’s blockchain, “The Degenerate Ape Academy NFT.”
The NFT project sold out its collection of 10,000 unique ape NTFs within eight minutes during its launch over the weekend. SOL up 14.72%, XRP down-1.21% ADA up +1.59%.