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 Credit: Canva

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

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

NFTs and decentralised application are said to be driving its momentum

This puts it in direct competition with Ethereum Credit: Canva

Ether is up by 2.28 percent

The cryptocurrency is currently trading at USD 3,238.60 Credit: Canva

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 Credit: Canva

Bitcoin is currently trading at USD 46,241.78

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

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 Credit: Canva

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 Credit: Canva

Cardano continues its upwards rise

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

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

The cryptocurrency is down by 1.89 percent at USD 463.81 Credit: Canva

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

The cryptocurrency is down by 0.44 percent trading at USD 1.13 Credit: Canva

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