• New Highs for SOL and LUNA Cause a Ranking Shift

  • Another dramatic 24 hours has resulted in new milestones for Solana (SOL) and Terra (LUNA), both of which have reached new all-time highs.

    SOL has already been on a roll this week, beginning on August 26; it rose from a relatively low position of $67.55 and proceeded to break over threshold after threshold. By the 28th of August, it had surpassed the $90 threshold. Even so, it was not finished, and it made a bold play for its next marker — $100 – throughout the rest of the day. However, the token’s ascension came to a stop in the early hours of August 29, when it fell short at $97.66. This is SOL’s most recent record. At the time of publication, data showed that the token had increased by over 25% in seven days.

    This dramatic growth has resulted in a modest adjustment in market capitalization rankings; SOL is currently the ninth most valuable cryptocurrency, with a total market value of $26.9 billion. An increasing trend that comes two weeks after its initial break into the Top 10.

    LUNA is aiming for a top-ten ranking.

    Meanwhile, Polkadot (DOT), which SOL dethroned as the ninth most valued cryptocurrency, is facing a new threat. LUNA, like SOL, has seen tremendous growth this week; about 30%, according to data. It is presently the 11th most valuable cryptocurrency by market cap, and it is closing in on DOT. It has already dethroned Uniswap (UNI), as SOL did two weeks ago, to take its spot in the top ten.

    In the morning of August 29, LUNA reached an all-time high of $36.61. The end outcome of a more tumultuous week than some of its peers. It attempted to break through the $35 barrier at the start of the week, but fell short at $34.66. At the time, this was its all-time high, achieved shortly after its companion DeFi token KAVA.

    From there, the token’s price fell precipitously, reaching a low of $26.73 on August 26. LUNA, on the other hand, has soared back up, making a shaky second effort at $35 and breaking it in the early hours of Sunday. At the time of publication, statistics revealed that the price of LUNA was $35.50.

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