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- Solana has emerged as one of many high gainers in 2023, with a value appreciation of over 100%.
- Rival tokens like Avalanche (AVAX) and Cardano (ADA) didn’t match SOL’s momentum this 12 months.
- Cardano witnessed the best surge when it comes to whole worth locked in DeFi purposes.
Solana has emerged as one of many high gainers in 2023, with its native cryptocurrency, SOL, including greater than 101% to its value for the reason that starting of the 12 months. Compared to SOL, the native cryptocurrencies of rival blockchains Avalanche (AVAX) and Cardano (ADA) didn’t register such important positive factors.
Information from CoinMarketCap confirmed that SOL went from $9.9 firstly of the 12 months to $19.8 on the time of writing, including greater than $4.5 billion to its market capitalization. The crypto reached its yearly excessive of $29 in July. SOL’s each day buying and selling quantity got here in at over $244 million.
ADA recorded a modest value appreciation of 8.3% for the reason that starting of January, going from $0.24 to $0.26. The crypto’s yearly excessive of $0.45 was witnessed on April 16, nevertheless it has misplaced greater than 42% since then. ADA’s buying and selling quantity over the previous 24 hours exceeded $90 million.
As for Avalanche, its native crypto, AVAX, has misplaced over 10% of its worth to this point this 12 months. The worth decline led to a substantial lower in its market capitalization. On the time of writing, AVAX was buying and selling at $9.8, with a 24-hour buying and selling quantity of $91.5 million.
In keeping with the on-chain analytics platform DeFiLlama, Cardano emerged as the highest gainer among the many three cryptocurrencies when it comes to whole worth locked (TVL) in decentralized finance purposes. Cardano’s whole jumped a whopping 227.4%, going from $48.9 million firstly of 2023 to $160 million at press time. In the meantime, Avalanche witnessed its TVL decline by 32.4% year-to-date, coming in at $513 million. Solana recorded an increase of practically 50% in its TVL.