Following a poor trading day beginning on Thursday, Solana (SOL) is currently experiencing a very slight price comeback. At the time of writing, the current price of the cryptocurrency is $22.08, up 0.98% from the previous day and more than 9% from the previous week. Because of the recently released Q2 performance report from crypto analytics service Messari, Solana is continuing to be resilient.
Solana highlights and Bonk’s role
According to Messari’s research, the Solana blockchain saw ups and downs in the second quarter, with a 9% price valuation decline. Despite this, the coin finished the quarter by maintaining its position among the top 10 most capitalised cryptocurrencies, demonstrating it hasn’t lost any of its value.
BONK, the first meme coin in the Solana ecosystem, had an effect on overall performance for the quarter. BONK continued to have a significant influence on the first quarter’s high transaction volumes, and in May, when users engaged with an unidentified smart contract, it also assisted in raising the Solana statistics to new highs.
Overall, the Solana protocol’s Nakamoto coefficient of 32, which is above-average compared to other Layer 1s, was demonstrated in Q2. According to an earlier U.Today story, Solana Mobile, the protocol’s smartphone, was also introduced in the second quarter. Solana Mobile was available for ordering by the general public beginning in May.
Eyeing new high
In comparison to its competitors, the Solana protocol has maintained a comparatively positive pricing so far this year. The SOL coin has gained 126% year-to-date (YTD) and is presently aiming for a new monthly high above $23 due to the optimism blooming in its ecosystem.
Overall, there is hope that the Grizzlython event, which concluded in the second quarter, will have an influence on the procedure in the years to come.
