Solana token rises 36% and enters the top 10 in terms of capitalisation

August 19, 2021

Solana token rises 36% and enters the top 10 in terms of capitalisation

Solana's native token (SOL) hit a new all-time high of above $60 on August 16. The coin has gained 36.6% in the last 24 hours, according to CoinGecko.

Solana's native token

At the time of writing, SOL is trading at $61. The asset ranks tenth among the top cryptocurrencies by capitalisation at $17.8bn.

Earlier, it was reported that Solana Labs, the developer of the Solana blockchain, raised $314 million in a private token sale. The round was led by Andreessen Horowitz and Polychain Capital, with participation from Alameda Research, CMS Holdings and others.

Recall that in May the Solana Foundation, a non-profit organisation, raised $60m to develop projects in Brazil, India, Russia and Ukraine.

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