Here's Why Solana's Cryptocurrency Is Skyrocketing Today

The Solana (CRYPTO:SOL) cryptocurrency is soaring again on Friday. The token, called SOL, has climbed roughly 12.6% over the last 24 hours, and it set a record high for its price in today’s trading.

The cryptocurrency’s price has climbed rapidly amid rising interest in decentralized finance applications and non-fungible tokens. With its blockchain network capable of supporting smart contracts, application development, and fast transaction times, Solana has emerged as a top competitor to Ethereum (CRYPTO:ETH). SOL now trades at roughly $140.50 per token.

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