{"id":516941,"date":"2023-01-20T15:00:04","date_gmt":"2023-01-20T20:00:04","guid":{"rendered":"https:\/\/wncen.com\/?p=516941"},"modified":"2023-03-08T07:26:31","modified_gmt":"2023-03-08T07:26:31","slug":"solana-sol-outperforms-top-coins","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/solana\/solana-sol-outperforms-top-coins\/","title":{"rendered":"Solana (SOL) Outperforms Top Coins With 28% Gains On Weekly Chart"},"content":{"rendered":"
Solana (SOL) recovered from the slight pullback yesterday, even when the <\/span>general crypto market<\/span><\/a> cap dropped today. <\/span>SOL which has been on an uptrend in the past week saw a 28.44% increase during this time. This increase might be due to combined economic factors and Solana’s growing utility among crypto users.<\/span><\/p>\n The Solana network is enjoying more attention from the increased crypto awareness and adoption among individual and institutional <\/span>investors<\/span><\/a>. The network has rolled out plans for 2023, creating excitement among its online community.<\/span><\/p>\n Related Reading: XRP Vs. Cardano (ADA), Which Is The Better Investment In 2023?<\/a><\/p>\n The SOL network <\/span>provides developers access and a framework to build <\/span>DApps<\/span><\/a> on its blockchain. <\/span>For instance, <\/span>Phantom<\/span>, a crypto wallet, is hosted on the Solana blockchain. The wallet supports decentralized finance, staking, and NFT transactions for Solana users.\u00a0<\/span><\/p>\n Also, <\/span>SolanaMobile<\/span><\/a>, on Twitter, announced its intention to launch <\/span>Solana Mobile Stack<\/span><\/a> and Saga phones. The mobile phone will bring the Solana blockchain to the fingertips of users. Users are keen on the launch of the device, slated for this early this year.\u00a0<\/span><\/p>\n Additionally, as an altcoin, Solana correlates to bitcoin in price action. So, <\/span>Bitcoin’s recent<\/span><\/a> rally<\/span> and other economic factors might be influencing SOL’s price. <\/span><\/p>\n The macroeconomic factors affecting SOL price include a low Consumer Price Index (<\/span>CPI<\/span><\/a>) value for December 2022. <\/span>The CPI notes the overall change in consumer prices in a specific timeframe. These factors combined could be responsible for SOL’s price surge in the past few weeks.<\/span><\/p>\nWhat Is Driving The Price Of Solana?<\/b><\/h2>\n