Solana (SOL), the sixth most valuable cryptocurrency by market cap, beats its peers. Moreover, the positive sentiment has spilled over into altcoins. Likewise, SOL enticed all bulls into its market, gaining 13% in the last 24 hours.
Meanwhile, one of the biggest drivers of this rally is the highly positive sentiment in markets towards cryptos lately. In addition, investors are cheering Bitcoin smashing a new record high of $66,600.55. At the same time, Ethereum has crossed the $4,366.09 mark over-optimism of the US’s first-ever Bitcoin ETF launch earlier this week.
At the time of writing, SOL is trading at $202.45. Besides, crypto analysts say that technical resistance indicates that the market looks set to float higher. Meanwhile, overall sentiment on the crypto market is heavily positive. It results from adding more volatility to any downturn.
Notably, in recent months, the monthly time for SOL has been quite bullish. In fact, Solana hit an all-time high of $214.96 on September 9.
Furthermore, Solana can be dodging the current market correction whilst persevering with a robust journey. Besides, the Solana platform is rising because the best choice for brand spanking new DeFi gamers is available in the market.
Recently, Solana-based play-to-earn MonkeyBall announced the successful fundraising event to raise not less than $3 million from various venture and angel investors. Moreover, Synchrony Finance, a Solana asset management protocol, has raised $4.2 million in strategic funding.
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Source: Cryptocurrency - investing.com
