Solana price reached $200 for the first time since December 2021.

Solana’s price is quickly approaching $200 for the first time since December 2021, and the token is currently priced at around 20% off its all-time high.

Solana brush

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The price is currently $196. The Block’s pricing page. It has risen 16% in the last 24 hours, reaching a market capitalization of $84.7 billion. The market capitalization is on track to hit a new all-time high, rising above its peak in November 2021. While Solana’s price has decreased compared to previous highs, its supply has increased significantly, increasing its market capitalization.

While the cryptocurrency market has seen significant gains over the past few months, many top cryptocurrencies have experienced declines over the past few days. For example, Bitcoin fell from $73,000 to $69,000, and Ethereum fell below $4,000. However, Solana’s price is bucking this recent trend.

The price of Solana continues to rise. Image: The Block’s pricing page.

Avalanche, another layer 1 blockchain, has also seen recent price growth. The token surged to $60 and is now back to the price range last seen in May 2022. This is up from $9 in October 2023.

Mixed performance among layer 1 blockchain tokens kept them flat across the board. The GML1 index, which tracks the performance of native tokens on layer 1 blockchains, remains at the same level for four days, showing positive and negative price changes canceling each other out.

Tokens associated with layer 2 networks also did not function properly. As layer 2 token prices fell, the GML2 index fell sharply.

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