yolowire.com - The price of Solana (CRYPTO: SOL) has risen above $240 U.S. for the first time in three years amid an ongoing rally in Cryptocurrencies.
Solana’s price increased 4.3% in the last 24 hours, outperforming most other cryptocurrencies, as investors continue to pile into the digital token that is used to facilitate smart contracts.
The price of Solana has now risen 55% in the last month, making it one of the top-performing cryptos, outperforming both Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) over that stretch of time.
Bitcoin’s rally looks to have paused right around $90,000 U.S. and Ethereum is treading water around $3,000 U.S.
In contrast, Solana’s price continues to rise, with some analysts forecasting that it could surpass its all-time high of just under $260 U.S. set back in November 2021.
Solana and other cryptocurrencies are rallying on expectations for less regulation and wider adoption of digital coins and tokens under a Donald Trump presidency.
Over the past 12 months, the price of Solana has gained 322% to trade at $240.65 U.S.