Cryptocurrency developed by a Ukrainian grew by 40% per day

After a severe market crash at the end of last year, the crypto landscape is steadily recovering, with altcoins leading the way. Solana (SOL) is one of these altcoins, and the weekend started well for it.

According to CoinGecko, SOL gained 40% in value over the weekend, which sparked discussions throughout the Solana ecosystem. Although it remains to be seen how long the altcoin will be able to maintain this momentum, this significant price increase indicates an increase in positive investor sentiment.

Interestingly, as a result of the price increase, SOL even surpassed Polygon (MATIC) in terms of market capitalization, becoming the 10th largest cryptocurrency. However, this was short-lived, as the Ethereum-based token has since regained its position.

At the time of writing, SOL is trading at $ 22.35. Earlier this year, BONK, a new meme coin launched on December 25, gained over 2000% in its first week, becoming the largest meme coin in the Solana ecosystem.

Despite the fact that BONK soon dropped by 50% after its incredible growth, the meme coin is still optimistic, as many investors expect it to return to its previous high price levels in the coming weeks.

As a reminder, Solana was created in 2017 by former Qualcomm employees Anatoly Yakovenko and Greg Fitzgerald, as well as PhD and data science specialist Eric Williams. The beta version of the system was released in 2020.