SOL Crypto News: Why Is Solana Going Up Today?

Solana (SOL-USD) is on the move today as the crypto sees its price continue to rise as a week-long rally sends it higher.

The price of Solana has been increasing over the week with a broader rally among cryptos as the cause. That includes Bitcoin (BTC-USD), Ethereum (ETH-USD), and several other top players in the digital coin space.

When the price of Bitcoin heads higher, we often see other cryptos move in symphony with it. This week’s gains saw BTC breaking past $47,000 per token. It continued to hand around that price for several days until finally slipping back into the $46,000 range today.

While BTC is pulling back from this week’s rally, SOL has been able to withstand that draw with gains today. While there was a brief period of decline earlier this morning, the price of SOL crypto recovered quickly and is still up.

The rise of SOL today comes as the company sees quite a bit of trading. Over the last 24 hours, the trading volume for SOL crypto was $3.99 billion, which is a 4.2% increase in trading volume. That heavy trading helps further explain why SOL is up beyond just the rise in BTC this week.

SOL is up 1% as of Thursday afternoon.

Investors that are looking for more of the hottest crypto news for today are in luck!

We’ve got all the most recent crypto news that traders need to know about for Thursday. A few examples include Shiba Inu (SHIB-USD) investors reacting to its metaverse, BitTorrent (BTT-USD) gaining on NFT news, as well as the latest news on Cardano (ADA-USD). You can find out more about these matters by checking out the following links below!

More Crypto News for Thursday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.