20 July 2026
Solana Taps ATH Following Phantom Wallet's 1M Active users
Presently, Solana (SOL) is experiencing exponential growth in both terms of on-chain activity and token price through 2020.
It has been a great year for Solana. At the time of writing, SOL was trading for 246.71 USD and is now listed as the fourth-largest Cryptocurrency on CoinMarketCap. However, at the start of 2021, Solana had ranked the lowest in the top 100 list.
Solana started the year with a trading price of 1.84 USD. That indicated a whopping 13,300% gain for HODLers who bought into SOL at that point. Yesterday, SOL briefly reached its current all-time high at 258.85 USD. In June, the project raised 314 million USD in a private token sale.
Among several investors including, Andreessen Horowitz, Polychain, and, most notably, Alameda Research. The Latter, a quant trading firm founded by FTX.com CEO Sam Bankman-Fried, has mainly contributed to Solana's DeFi ecosystem.
One more thing that contributed to the Crypto's biggest success stories was the growing hype around non-fungible tokens. For example, the Phantom wallet for Solana, which has one million active users, has a handy feature that enables users to view their NFTs within the wallet interface itself, rather than having to rely on an NFT marketplace or any other third-party site.
This made Solana one of the go-to Blockchains for NFT projects that are deterred by Ethereum’s high gas fees. With last month's secondary NFT sales totaling more than 500 million USD, Solana stands as the second most popular Blockchain for NFTs, trailing only behind Ethereum.
Discussion
0 comments