Solana seems to be on a cocktail of protein, Red Bull and steroids as it continues on dominating the crypto market. As of today, November 7, 2021, Solana reached an all-time high of $260. Learn all about Solana and their DeFi network on “What is Solana”.
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Solana Smash!
Think about it this way, name one business venture that would result in 17000% profit in one single year. The network seems to be on a roll as it keeps on delivering staggering results. Currently, Solana stands 4th in the ranks by market cap. Surpassing ADA and Tether, the latest growth put all other cryptocurrencies to shame.
With an impressive market cap of almost $76 billion, the network has seen massive inflows. Furthermore, the massive rallies have put the cryptocurrency on the spotlight.
At this point, SOL is going for a slight dip as it is showing signs of an upcoming price correction. However, the bearish movement is mostly concerned with short-term positions.
All data provided by CoinMarketCap
Gaming Pays off!
The massive rally seems to stem from the big news of web 3.0 gaming investment. In the published article, we specifically predicted a price surge as a result of the news. Our prediction was based on two primary factors: first, the current state of the market has very strong reactions to positive news and overall publicity. Second, metaverse has become a highly discussed topic of conversation and the latest investment is a testament of Solana’s faith in it.
By the looks of it, the NFT hype has diffused a bit and right now, metaverse is the new kid on the block. In that regard, SOL network chose a great time to announce $100-million-dollar investment on web 3.0 gaming.
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