Solana token climbs 36% to enter the top 10 by market capitalisation

On 16 August the native token of the Solana project (SOL) hit an all-time high above $60. Over the last 24 hours the coin rose by 36.6%, according to CoinGecko.

As of writing, SOL trades around $61. The asset ranks tenth among leading cryptocurrencies by market capitalisation, with a value of about $17.8 billion.

Solana Labs, the developer of the Solana blockchain, raised $314m in a private token sale. The round was led by Andreessen Horowitz and Polychain Capital with participation from Alameda Research, CMS Holdings and others.

Earlier in May, the non-profit Solana Foundation raised $60m to support projects in Brazil, India, Russia and Ukraine.

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