• Solana (SOL) has seen double-digit gains in the last couple of days, breaking from the trend of the rest of the crypto market.
• The surge in the price of SOL is being driven by a new meme coin called BONK, which was airdropped to holders of major NFT projects.
• SOL is now up over 16% in the last 24 hours and 37% for investors over the last week.
The crypto market has experienced a small recovery following the holidays, with the large players seeing some gains. However, Solana (SOL) has been one of the few digital assets to break away from this trend and instead experience an impressive double-digit surge in the past couple of days. This has been largely driven by the emergence of a new meme coin known as BONK, which has caused a wave of FOMO amongst investors.
BONK was airdropped to holders of major NFT projects, leading to a surge in the price of the meme coin. This, in turn, caused more attention to be drawn to the Solana network, as investors needed to trade on it in order to purchase BONK. This led to SOL ballooning to become one of the best-performing assets in the crypto space. In just two days, SOL has seen an increase of 16% in the last 24 hours and 37% for investors over the last week, according to data from Coinmarketcap.
The growth of SOL in the market is still largely driven by the attention that BONK has garnered and it is yet to be seen whether the digital asset will be able to hold on to the gains. Nevertheless, the surge of SOL has been an impressive one to witness and has been a bright spot in the crypto space, particularly as the market has been experiencing a lull due to the holidays.