Solana Takes a Breather From Double-digit Monthly Performance

Solana (SOL)  has made it to CoinMarketCap’s trending list and is currently occupying the 7th spot. SOL is positioned behind XRP in 6th and front of Terra (LUNA) in the 8th position.

In the last 24 hours, SOL’s price has seen a dip of 5.09%, but when looking at the weekly numbers, SOL climbed by 0.70%. In the last 30 days, SOL had a decent 12.45% price increase. Currently, the SOL price stands at $102.07.

SOL is still pretty far off from its all-time high of $260.06. Despite this and Solana’s price dipping lower in the last 24 hours, trading activity around the coin has picked up. The current 24-hour trading volume of SOL has risen by more than 12%, taking the total 24-hour trading volume to more than $1.8 billion.

The cool down in SOL’s significant monthly upswing could be traders taking a profit. However, it should be noted that the price of SOL has risen much more than it has dropped in the last month. Looking at a longer time horizon, it could be argued that investors and traders are still confident that the price is taking a short breather before continuing the upwards move.

In related news, Kevin O’Leary from the popular TV Show Shark Tank recently unveiled the altcoins that he holds in his crypto investment portfolio. Among others, Solana is one of the coins mentioned. He also mentioned that he plans on accumulating more SOL tokens.