Solana Price Soars 500% in 2021 as Institutions and Traders Flock to Fast, Low-Cost Blockchain
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Solana (SOL) price has rallied over 500% year-to-date, reaching $60 recently which is the highest since May 2022.
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Increased liquidity, new users, and interest from institutions are driving the price uptrend.
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Decentralized exchanges on Solana exceeded $2B in volume in the first 12 days of November.
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Grayscale's Solana Trust (GSOL) is trading at over 800% premium, showing strong institutional demand.
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Other Grayscale products like GBTC are also trading at high premiums ahead of a potential Bitcoin ETF approval.