Solana ($SOL), a well-known altcoin, has been witnessing a massive price surge, especially after Monday. The new market statistics reveal that Solana ($SOL) surpassed the $200 mark for another time, raising investor optimism to a significant extent. In this respect, $SOL has been substantially contributing to the ongoing altcoin season.
Solana Jumps above $200, Overwhelming Social Media with New Wave of Optimism
As a result of Solana’s ($SOL) spike above the $200 spot, the Social Dominance of the crypto token has touched a staggering 9%. This level shows a peak since June’s start, as a great amount of the crypto discussions include $SOL nowadays. The Social Dominance metric counts on the extent of attention given to an asset in comparison with the prominent 100 crypto assets.
Hence, the exclusive jump denotes increasing retail interest as well as growing FOMO around Solana ($SOL). Although the current hype does not guarantee the further rally, the robust on-chain fundamentals are reportedly supporting overall positive momentum. Apart from that, the Development Activity of Solana has also jumped over sixty-three per-day GitHub events. This indicates the highest level witnessed since May’s last days.
Bitcoin Stays Low Irrespective of Considerable Favoring Developments
While the altcoin landscape is making considerable development, Bitcoin ($BTC) displays a diminishing interest. Thus, the flagship cryptocurrency’s price is still down at approximately $118K, despite the notable acquisitions. In this respect, Trump Media and Technology, the media company of U.S. President Donald Trump, has acquired up to $2 billion in $BTC and $BTC-related products.
Additionally, JPMorgan Chase is also planning to deliver crypto-backed loans while focusing on the top assets like Bitcoin ($BTC). However, irrespective of these developments, Bitcoin has not presented any considerable development. On the other hand, Solana ($SOL is now changing hands at $203, underscoring a huge 27% increase over the past seven days. Moreover, the continuation of this bullish trend could pave the way for further milestones.
