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Crypto: This Cryptocurrency Outperforms BTC, ETH and Others

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Solana (SOL) has soared more than 6,000% since early 2021 outperforming the year-to-date performance of major currencies such as Bitcoin (BTC),  Dogecoin (DOGE), Ethereum (ETH) and  Bitcoin Cash (BHC).

Observed movements

Solana has soared 6,281.72% since early 2021, which is significantly higher than DOGE’s 4,707.80% gain in a similar period.

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Ethereum, which has also benefited from  decentralized applications  (DApps) and the popularity of DeFi, has soared 983.99%, in comparison.

The leading cryptocurrency Bitcoin’s gains to date are even less impressive at 60.62%, while BCH, a fork of BTC, has gained 84.59% since January.

Solana has been on a hot streak recently, rising 51.36% in a seven-day period and skyrocketing 20.97% to $ 118.31 in just 24 hours.

The programmable blockchain currency  hit an all-time high of $ 119.25 in the latest review.

Why is it moving?

There is a growing buzz around Solana and the hot territory of   non-fungible tokens,  or NFTs. On Monday, the project retweeted an ad for  Metaplex,  a protocol that helps artists and others build NFT experiences in Solana.

https://twitter.com/metaplex/status/1432055263763206144

Jonas Luethy ,  trader  of the  broker  of criptomonedas  GlobalBlock attributed the boom Solana to NFT, sales of which in August almost reached the mark of USD 900 million, representing a figure three times higher than the best previous month, in May, as  reported by  Forbes.

Pyth Network  recently became the first cross-chain oracle   to deliver  real-time, institutional-grade market data  to on-chain DeFi platforms and applications   with the launch of Solana Mainnet.

Solana highlighted the interest in Pyth Network and its growing adoption on social media.

Pyth would be transmitting market data through the  Wormhole Network , which launched its  mainnet  last week. After the launch of the Wormhole Network, an increase in SOL prices was observed.

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