During the day, the altcoin has risen in price by 10%. At 16:25 Moscow time on October 25, the token is trading at $ 206, and its market value is $ 62.4 billion
Solana token ranked sixth among the largest cryptocurrencies in terms of capitalization, ahead of XRP in terms of this indicator. At 16:25 Moscow time on October 25, the altcoin is trading at $ 206, over the past day it has risen in price by 10%, and its capitalization is $ 62.4 billion. Over the week, Solana has grown in price by 29%. In early September, the altcoin renewed its all-time high above $ 213.
Solana is considered an emerging competitor to Ethereum. Vitalik Buterin's cryptocurrency is the leader among blockchains with smart contracts, however, its network is often overloaded, which leads to increased fees for transfers. That being said, Solana offers faster and cheaper transactions.
Solana lags far behind Ethereum in terms of network activity. DeFi protocols on Solana contain $ 13.5 billion in blocked cryptocurrency in their smart contracts, while on Ethereum – $ 162.8 billion, according to DeFi Lama.