Solana’s (SOL) dazzling rally boosts social dominance
Solana is experiencing great days in the market with an eye-opening price rise and increasing social dominance. The smart contract-focused blockchain is among the top projects in terms of social signals and price gains over the past week.
The primary token SOL recorded an % 80 gain in SOL/USDT pair on famous exchanges during the past week. The coin is now trading at the $160 price range. This has resulted in more attention to the project and its token on social media platforms. More people are talking about Solana, which results in more buy power in the market. All of them create a chain that helps the project grow and record more ATHs in the market.
The Growth Chain for Solana
When the price of a token in the cryptocurrency market rises significantly, a chain of incidents happens that help each other and may move the coin very upper than expected. In simple terms, when the coin price goes high, more people start to look at it and talk about it. It results in more buy power in the market that moves the price even higher. This chain has happened for the SOL token in the past few days. The price recorded all-time highs one after another, and now the social signal for this token is among the top altcoins in the market.
According to a recent tweet from LunarCRUSH, Solana is currently at the top of the list of AltRank on this platform. The platform publishes data about social signals of cryptocurrencies in the market. As the data shows, FTM, QNT, FTT, and LINK are at the next levels in the AltRack ranking. AltRank is a score in LunarCRUSH that combines some metrics to rank the coins. The lower the score of AltRank, the better the performance of the coin.
Right now, Solana ranks 1 in this ranking. According to LunarCRUSH, AltRank combines the price performance of the token in relevance to BTC price with social activity indicators. We know that Solana has been good in both scores in the past few days. The price of SOL in BTC is about 0.0035BTC that has recorded a new all-time high. Besides, more people are considering buying the coin and now talking about it on Twitter and other social media platforms.
Solana also has a high Galaxy Score on the LunarCRUSH platform. This score indicates the healthy performance of the coin. It looks at various performance indicators across markets and also social engagements—solar scores 73.5 in this ranking that is among the good ones and ranks 23rd.