Solana (SOL) outperformed the rest of the major cryptocurrencies this week, gaining 9% over the past seven days, while Bitcoin and Ethereum fell more than 4% and 2% respectively over the same period.
"This performance is supported by a number of specific endogenous catalysts in the Solana ecosystem, including major technology launches and VanEck's first US Solana Spot ETF filing," said Coinbase analysts David Duong and David Han.
According to a weekly report released by Coinbase on Friday, several recent developments have strengthened the value proposition of the Solana blockchain. One is ZK compression technology, which analysts point out can reduce the cost of Solana, especially for large-scale token distribution.
The analyst added that Solana Blinks represents a development that could lead to an improved and more versatile user experience for Solana apps.
Coinbase report: Solana outperformed other major cryptocurrencies this week due to multiple catalysts
2024-06-28 15:55:21
Solana sol week performance outperformance rest major crypto currency seven daysdesk3cryptocurrencydesktopCrypto News
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