Solana Blockchain Returns to CoinMarketCap Top 5

The price of the Solana blockchain token (SOL) has exceeded $180 for the first time since mid-February, up about 30%. Back in April, the coin temporarily fell below $100, making the current move especially significant for token holders.

With a market cap of over $94 billion, Solana has reclaimed the fifth spot in the overall CoinMarketCap rankings, surpassing Binance's BNB. This was possible due to increased interest in the ecosystem, fueled by both institutional movements and retail traders.

One of the key growth indicators came in January: on January 19, when the price of SOL reached an all-time high of $294, the TRUMP memcoin, associated with US President Donald Trump, was launched. At the initial stage, it could only be purchased through decentralized exchanges (DEXs) built on Solana. During the same period, there was a boom in Solana-based memcoins. Although most of them have lost up to 90% of their value since January, a number of projects showed a noticeable rebound in May, which partially spurred interest in the network itself.

Earlier it was reported that the Solana blockchain, known for its high transaction speed and minimal fees, faced a number of critical problems that call into question the long-term sustainability of its ecosystem. This was written by Riccardo Curatolo, a journalist for the Crypto News portal, on his website.