Solana reaches a new all-time high and surpasses Cardano

SOL catches a new all-time high and surpasses both Tether (USDT) and Cardano (ADA). This comes after both Bitcoin (BTC) and Shiba Inu Coin (SHIB) established new ATHs earlier last week. However, the broader altcoin market remains down on their May 2021 ATH.

SOL breaks through a new ATH

SOL's first breakout came in August, when it exploded from just $ 43 to $ 200 in less than a month. However, after September volatility hit the entire cryptocurrency market and the SOL network suffered a major disruption, the cryptocurrency dropped to a low of $ 124 in mid-September.

In the following month, SOL rebounded. It has currently risen 57% over the past 30 days, surpassing all cryptocurrencies in the top 10. For SOL to reach a market capitalization of $ 70,6 billion and surpass ADA, it increased more than 8%. After SOL hit its new ATH, the owners celebrated the milestone on social media.

SOL's rapid rise in prices is likely a symptom of its continued DeFi expansion. The Solana ecosystem now has a total frozen value (TVL) of $ 13,75 billion according to DefiLlama, beating its previous TVL high of $ 11,67 billion in early September.

Solana-based projects such as Saber, Radium, Sunny and Orca all contribute over $ 1 billion to the ecosystem. The ecosystem is able to attract projects thanks to the higher number of transactions per second and lower fees.

By comparison, the Ethereum and Binance networks have TVLs of $ 163,5 billion and $ 20,72 billion, respectively. However, Solana only has 26 projects running on its blockchain, while Ethereum has 272 and Binance has 133.

NFT Solana: here's where to buy NFT SOL

If you want to buy NFT Solana, but don't know where to start, we have what you need. Solana is quickly positioning itself as an alternative to Ethereum, competing with Cardano (ADA) for the title of "Ethereum Killer". Further support and adoption of NFT could be the key to achieving this milestone.

Where to buy NFT Solana

Unlike Ethereum, where OpenSea rules the NFT market, there are several markets that support Solana NFTs, most of them in beta or alpha.

SolSea is among the most important of these markets, positioning itself as “the first NFT market that allows creators to choose and incorporate licenses when they mint NFTs”. At the time of writing, a total of 15.575 NFTs are listed on SolSea.

In addition to SolSea, Solanart is a popular NFT marketplace launched before SolSea. According to Solanart, the site has facilitated a total of 304.957 sales, for a total volume of 3.693.344 SOL ($ 556 million).

Solana holders can also purchase SOL NFT from the DigitalEyes marketplace or FTX.US. FTX also allows users to deposit NFT Solana into its platform for listing.