Solana grew by more than 20% in just 7 days

The value of Solana, a cryptocurrency created by Ukrainian developer Anatoliy Yakovenko, has increased by 24.5% in just 7 days, demonstrating the best result among other popular digital assets.

At the time of writing, SOL is trading at $ 25.24, having risen by 4% over the past 24 hours. The token’s capitalization is currently about $ 9.9 billion.

Cryptocurrency analysts have noted that traders are actively sending Solana to exchanges, so the cryptocurrency may reset in the near future. According to the WhaleAlert service, on Saturday, one of the investors transferred 900,000 SOL worth about $ 22 million to the Coinbase platform. If this whale starts selling the token en masse, other cryptocurrency holders will follow suit.

According to analysts, in the first 3 months of 2023, SOL was the most efficient of the top 25 tokens and surpassed even bitcoin and ethereum in terms of profitability. The digital asset managed to increase in value by 104%.

Probably, the current increase in Solana’s value is related to the launch of sales of the Web 3.0 smartphone Saga from the developers of Solana Mobile. Users of the crypto smartphone can easily trade cryptocurrencies, and to confirm transactions, they just need to touch the scanner on the back of the device.