Solana is flying high as the rest of the crypto market struggles to keep up

Aug 31, 2021

By: BI India Bureau

Solana is flying at USD 117.14

This is the first time the cryptocurrency’s value has surged above the USD 100-mark

Credit: Canva

Solana has gained nearly 20 percent in the last 24 hours

Over the last weak, it’s value has jumped by nearly 50 percent

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Over the past month, Solana’s value has increased by 220 percent

That is a four-fold surge in the cryptocurrency’s price

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NFTs and decentralised application are said to be driving its momentum

This puts it in direct competition with Ethereum

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Ether is up by 2.28 percent

The cryptocurrency is currently trading at USD 3,238.60

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But, if there is a deep correction, it could result in a decline of Ether...

...to the 200-day simple moving average (SMA) of USD 2,389

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Bitcoin is currently trading at USD 46,241.78

The cryptocurrency’s price is down by 1.51 percent over the past 24 hours

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Bulls failed to push the price above the USD 50,000 resistance level

With September around the corner, it’s unlikely that the price of Bitcoin will increase over the next month

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Bitcoin has closed September in the red for the last six years

It’s poor performance during the month has not stopped trades from accumulating in August, according to Ecoinometrics

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Cardano continues its upwards rise

The cryptocurrency is up by 0.66 percent over the last 24 hours trading at USD 2.81

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Binance Coin is one of the losers over the last 24 hours

The cryptocurrency is down by 1.89 percent at USD 463.81

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Amid all the regulatory muddle, XRP is trying to hold on

The cryptocurrency is down by 0.44 percent trading at USD 1.13

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Disclaimer

These are top cryptocurrencies by volume according to CoinMarketCap. | Prices updated as of 12 pm IST and may change over the course of the day.

Credit: CoinMarketCap

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