Solana Price Jumps Nearly 5% as Bitcoin, Ethereum Lag Behind

It’s been a quiet Monday morning so far near the top of the cryptocurrency charts, as most of the biggest coins by market cap are trading either sideways or slightly down. Solana is the notable exception, rising nearly 5% over the past day.

Solana is currently trading at $154, pushing its weeklong gain to over 12% per data from CoinGecko. Like many cryptocurrencies, Solana has had a rough month, swinging from a high of $184 to a low of nearly $120 during that span. But it’s been ticking back up over the last week as gains outpace those of Bitcoin and Ethereum.

That’s true over the last 24 hours as well, with Bitcoin sitting at a price of $63,650, down over 1%, while Ethereum is down over 2% to $3,092 as of this writing. Over the past week, Bitcoin is up by 1.3% while Ethereum remains down by 2.6%.

Expanding out to the top 100 coins by market cap, a couple of the biggest gainers are also deployed on Solana. JUP, the token of decentralized exchange aggregator Jupiter, is up 6% today to a current price of $1.14, while meme coin Dogwifhat (WIF) is up nearly 5% to $3.43.

Solana’s recent revival also comes as the network sees a surge in new tokens deployed via the network’s SPL standard. On Saturday, 14,648 new tokens were deployed on Solana via data from Solscan, setting a new all-time record, and every day over the last two weeks has yielded at least 10,000 new tokens on the network.