Why is Solana (SOL) price up today?

SOL’s value increased today due to high network activity and the strong performance of Solana-based memecoins.

Solana (SOL) price is up today, buoyed by a modest recovery in the broader cryptocurrency market. SOL’s rebound follows Bitcoin’s pump after a softer-than-expected CPI reading for May.

Data from Cointelegraph Markets Pro and Coinbase revealed that SOL’s price was $159, up approximately 5% in the last 24 hours and 36% from its local low of around $118, established more than five weeks ago.

The smart contract token has performed well over the last few months, rising more than 88% over the last six months and 56% year-to-date. Its market capitalization is $73 billion, cementing its position as the fifth-largest crypto by market value.

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SOL’s value increased today due to high network activity and the strong performance of Solana-based memecoins.
Solana (SOL) price is up today, buoyed by a modest recovery in the broader cryptocurrency market. SOL’s rebound follows Bitcoin’s pump after a softer-than-expected CPI reading for May.Data from Cointelegraph Markets Pro and Coinbase revealed that SOL’s price was $159, up approximately 5% in the last 24 hours and 36% from its local low of around $118, established more than five weeks ago.The smart contract token has performed well over the last few months, rising more than 88% over the last six months and 56% year-to-date. Its market capitalization is $73 billion, cementing its position as the fifth-largest crypto by market value.Read more