Solana has overtaken both Cardano and Tether amid rising interest in the SOL token. It hit a new high of $245.69 Wednesday while other assets also jumped.
Solana is taking names as it climbs the cryptocurrency rankings.
The high-speed blockchain has become the fourth-largest cryptocurrency by market capitalization, overtaking both Cardano and Tether in the past week. The SOL token has rallied hard amid renewed interest in the digital assets space, putting in a new all-time high of $245.69.
Solana’s current move looks to be part of a wider trend boosting Layer 1 assets. Ethereum and Polkadot have both recently hit new all-time highs, with Terra and Avalanche also coming close.