SOL price broke above $200 for the first time since December 2021.
Gains came as search for “Solana” on Google Trends hit a 5-year high at 100.
Solana price could target its all-time high above $260 in coming weeks.
Solana (SOL) traded above $200 for the first time since December 2021, hitting highs of $205 on Monday morning. SOL price has increased double digits in the past 24 hours, with the current price of $202 up 12%. Over the week, the altcoin is up 39% and its 85% over the past month.
Solana price up as search on Google Trends hit all-time high
As SOL price surged to $200, data on the token’s popularity showed searches for the term ‘Solana’ had increased significantly in recent weeks. The Google Trends data shows the cryptocurrency has experienced the highest popularity levels of 100, surpassing interest levels of 84 recorded in September 2021.
At the time SOL broke to near $200 for the first time, before going on to hit its all-time high above $260 in November 2021.
With a market cap of over $89 billion, Solana has overtaken BNB as the fourth-largest cryptocurrency. The flip is an indicator of Solana’s recent surge, although BNB has also spiked to $630 after rallying over 70% in the past 30 days.
Solana blockchain network’s explosive meme coin ecosystem is one factor, as is overall traction in the DeFi space.
BTC, ETH seek upside momentum
The gains for SOL came as the cryptocurrency market experienced a slight bump in upside movement following last week’s downside. As Bitcoin swung lower from highs of $73k to under $66k, major altcoin Ethereum (ETH) lost traction near $4,000 and dived to below $3,500.
At the moment, BTC price is back to above $68k as investors eye the next major event in terms of the upcoming Bitcoin halving. ETH is likely to target a new all-time high above $4,800 in coming months and SOL could break to a new ATH.
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