SOL’s meteoric rise to a new 2023 high appears to be driven by SPL tokens and a surge in DeFi and NFT activity
Solana’s native token (SOL) surged by 17% between Dec. 7 and Dec. 8, reaching its highest level since May 2022.
SOL’s fate changed dramatically on Dec. 1 when Brian Armstrong, CEO of Coinbase, revealed a plan to integrate the Solana network, including its tokens, although no specific date has been provided. This news sparked interest in Bonk (BONK), a Solana SPL meme token listed on Bybit, KuCoin, and Solana’s decentralized exchange, Orca, which gained 236% between Dec. 1 and Dec. 8.
On Dec. 6, Coinbase exchange announced the listing of Jito (JTO), an SPL token on the Solana network, which saw instant success as JTO doubled in price between Dec. 7 and Dec. 8. With the current circulating supply of 115 million, Jito’s market capitalization now stands at $422 million.
Read more