Solana, over $100 | CoinDesk JAPAN

Solana blockchain’s native crypto asset Solana (SOL) surpassed $100 on December 23rd, recovering the level seen before the Terra collapse about a year and a half ago.

At the time of writing this article, it costs about $102. According to CoinDesk Indices, the stock is up more than 10x since the beginning of the year and is up more than 70% in December alone.

Wednesday’s price action is emblematic of the excitement over the past few weeks, which has propelled the Solana blockchain, at least temporarily, to the top of on-chain activity. According to DefiLlama, the total trading volume of Solana-based DEXs (decentralized exchanges) is approaching Uniswap’s multi-billion dollar trading volume for the first time.

Much of the excitement is due to increased speculation. Currently, several popular crypto assets being traded on the Solana blockchain are dog-themed meme coins. Airdrops are also attracting many traders to Solana-based lending and bridges.

Solana Blockchain is a smart contract platform that supports fast and inexpensive crypto asset transactions. Solana has been compared to the Ethereum blockchain, but despite the rise of Solana, Ethereum remains in its position as the leading crypto asset.

｜Translation/Editing: CoinDesk JAPAN Editorial Department
｜Photo: CoinDesk