Solana’s native token, SOL hit an All-Time High (ATH) of $97.84 just 8 hours ago. Although the current price of SOL has slightly retraced to stand at $94.22, the token still occupies the #8 spot of the most valuable cryptocurrency with a market capitalization of approximately $27.5 billion, flipping Polkadot and USDC in just 2 days.
At its current valuation, SOL is more valuable than Delta Airlines.
SOL has been on an uptrend over the last 4 weeks, appreciating approximately 240% from $27.82 a month ago, to currently stand at $94.22 as of the time of this writing.
The reason for the massive appreciation in price in such a short period of time is a number of factors which include the U.S. securities regulator, the Securities and Exchange Commission (SEC), registering a Solana-centric fund for institutional investors. Also, the cryptocurrency market data network company, Pyth announced going live on the Solana blockchain. Thirdly, is Solana’s successful venture into non-fungible token’s (NFT’s) this month, with the launch of Degenerate Apes.
Solana’s current valuation makes it more valuable than well-known Delta Airlines which is currently trading on the New York Stock Exchange (NYSE) at $41.52 per share, with a market capitalization of approximately $26.6 billion. Year-to-Date (YtD), Delta has been up 7.20%.
Asides from Delta, SOL is more valuable than companies such as Deutsche Bank ($25.7 billion), Wayfair ($22.5 billion) and AMC Entertainment ($21 billion).