Solana’s 11% weekly surge to $163 stems from renewed retail and memecoin exercise on its high-throughput blockchain, positioning it as a most popular ecosystem for speculative performs. As a high-beta altcoin, SOL advantages disproportionately throughout risk-on intervals like Bitcoin’s breakout, attracting capital from merchants rotating out of large-caps.
The chain’s technical benefits—low charges and quick settlements—make it supreme for memecoin launches and NFT mints, driving natural quantity past by-product hypothesis. This contrasts with Ethereum’s greater prices, although ETH’s institutional OTC offers (just like the Basis’s 10,000 ETH sale) point out divergent investor profiles.
Solana’s relative energy highlights how layer-1 blockchains compete for market share throughout bull markets. With AVAX and Cardano additionally firmly inexperienced, investor urge for food for scalable sensible contract platforms seems strong regardless of Bitcoin’s dominance. SOL’s efficiency suggests merchants view it as a leveraged wager on crypto-wide adoption.
This text is for informational functions solely and doesn’t represent monetary recommendation. Please conduct your individual analysis earlier than making any funding selections.
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Editor-in-Chief / Coin Push Dean is a crypto fanatic based mostly in Amsterdam, the place he follows each twist and switch on this planet of cryptocurrencies and Web3.