- Solana (SOL) takes 7th place on CoinMarketCap’s trending list.
- The price of Solana is running out of steam after a monthly increase of more than 12%.
- Kevin O’Leary names SOL as one of the altcoins in his cryptocurrency investment portfolio.
SOL is positioned behind XRP in 6th position and ahead of Terra (LUNA) in 8th position.
In the past 24 hours, the price of SOL has seen a plunge of 5.09%, but looking at the weekly numbers, SOL is up 0.70%. Over the past 30 days, SOL has seen a decent rise of 12.45%. Currently, the price of SOL is $102.07.
SOL is still quite a ways off its all-time high of $260.06. Despite this and the fact that the price of SOL has been declining over the past 24 hours, trading activity around the crypto has resumed. SOL’s current 24-hour trading volume increased by more than 12%, bringing the total 24-hour trading volume to over $1.8 billion.
The slowdown in SOL’s large monthly rise could be due to traders taking profits. However, it should be noted that the price of SOL has risen much more than it has fallen over the past month. Looking at a longer time horizon, one could say that investors and traders are still convinced that the price is taking a short break before continuing its upward move.
In related news, Kevin O’Leary of the popular Shark Tank TV show recently revealed the altcoins he holds in his crypto investment portfolio. Among others, Solana is one of the mentioned cryptos. He also mentioned that he plans to accumulate more SOL tokens.