Solana briefly crossed over the $180 threshold after it rose by 4.3%. That is the primary time SOL has gone over $180 since its LIBRA-induced droop.
On Feb. 21, Solana (SOL) reached a day by day excessive of $180.19. The final time the token reached past the $180 threshold was on Feb. 18, proper earlier than it plummeted even additional beneath $170. It skilled a quick rebound of 4.3% round 09:30 UTC, however has since retracted barely to round $178.
In line with knowledge from crypto.information, Solana has gone up by almost 3% previously 24 hours. The token is at present buying and selling fingers at $178.79. Up to now month, Solana has been in a droop, happening by greater than 30%.
Solana’s market cap at present stands at $87 billion, with a completely diluted valuation of $105 billion.
Worth chart for SOL previously 24 hours, February 21, 2025 | Supply: crypto.information
Learn extra: LIBRA’s collapse turns into Solana’s greatest scandal since FTX: How Jupiter and Meteora left retail rekt
Not solely that, Solana additionally made a comeback by way of buying and selling quantity. In line with DeFi Llama, Solana has reclaimed the highest spot among the many DEX chains with $2.3 billion, surpassing Binance Good Chain (BNB), Ethereum (ETH) and Base (BASE). After Feb. 18, Solana misplaced its spot as the biggest chain by DEX quantity for 2 days in a row.
The latest collapse of the Solana-based meme coin LIBRA (LIBRA), promoted by Argentinian President Javier Milei, proved disastrous to the Solana ecosystem and the meme coin market as a complete. The token crashed by 95% within the first few hours after its launch. LIBRA’s market cap fell by $4.4 billion in the identical time span.
In line with Nansen’s report, Solana’s liquidity suffered because of LIBRA’s downfall, with liquidity outflows spiked from $12.1 billion to $8.29 billion. After LIBRA’s collapse, Solana additionally skilled a 15% drop in worth, as many buyers started to doubt the long run issuance and sustainability of buying and selling meme cash.
