Connect with us


Solana Replaces Dogecoin as 7th Largest Cryptocurrency by Market Cap Position


Solana’s SOL replaces the meme-focused cryptocurrency dogecoin to the seventh largest coin by market value and reaches a new high on Friday of September 2021.

According to the coin market cap data, SOL moves up 23.11% in the last 24 hours and foothold to $143. This value broke Tuesday’s $ 130 record. Hence, the capitalization of cryptocurrency increased to $41 billion and exceeded dogecoin’s $39 billion capitalizations.

Degenerate Ape Academy has a collection of artworks, and it is operating under the Solana network. The SOL token value has tripled in price due to Solana established the NFT project on the 15th of August at Degenerate Ape Academy. Non-fungible tokens (NFT) are unique digital assets. People can purchase them and keep their ownership.

Solana’s popularity is boosted by the founder and CEO of FTX, Sam Bankman-Fried, by the mindshare growth. He managed $ 2.5 billion of assets in the cryptocurrency trade. Most recently, the co-founder and managing partner at Keneti Capital said that they released Kaiju cards NFT. The Kaiju cards modeled with classic styles like Pokemon, Yugioh, and MTG are used in card games built on Solana’s blockchain.

The official blog says, “each character is created and hand-drawn by one of their four industry artists who have done their works on famous industries such as Netflix, Nickelodeon, Apple, Adult Swim. They are the experts in this field. Also, there are 23 characters available in the Alpha series.”

They presoled  the Alpha Series and gave access to the community members and early supporters. Then these people could purchase Kaiju  cards at a lower price on the 20th of August. The cards were priced at 5 SOL and 8 SOL, and the final sharing happened on Wednesday. Moreover, it met the unbelievable high demand and attracted global attention.

There were above 10,00 people online on their Discord, and according to the one trader, CoinDesk, in a Discord chat. But they only allowed 3.5k NFT to mint and one card per wallet. So, demand is more than their expectable level.

One more trader told that the newest leg higher in SOL might be related to Friday’s launch of Solsea. Solsea is the first NFT marketplace that allows creators to select and embed licenses in MFTs.

These days Solana’s network is booming. And the blockchain has garnered the support of foremost investors, thanks to its perceived scalability, fast processing speed, and comparatively low transaction charges.

Now SOL looks overbought with the fourteen-day relative strength index (RSI) positioning well above the 70 and indicating the pace of the rally may slow. In the latest analysis of QCP Capital, they said, “With the high volatility, SOL calls might be a decent sell.”   Generally, investors sell calls when the asset is predictable to consolidate or move lower. In addition, traders sell options when volatility is expected to drop. That’s why volatility has a positive influence on options’ prices.

Solana Official Website

Ravi Rajapaksha is a 𝗝𝗼𝘂𝗿𝗻𝗮𝗹𝗶𝘀𝘁 and 𝗘𝗻𝘁𝗿𝗲𝗽𝗿𝗲𝗻𝗲𝘂𝗿 specializing in Digital marketing. As a Founder of Nextenco, he is a driven entrepreneur looking to help small businesses, influencers, leaders, coaches, and entrepreneurs leverage Digital and Social media to the fullest extent.


Become A Crypto Expert

Join Disrupt Magazine

Become A Disrupt Contributor

Most Disruptive

NFT2 weeks ago

Polly Kole, The Beauty With Gifted Hands Tycoon Of NFT Sculptures

In a society full of stereotypes, people clinging to appearance and disregarding one’s achievements is the magnificent Polly Kole stunning...

News1 month ago

Spider Man; No Way Home’, Crushes Box Office Estimates Generating A Mammoth $253 Million In North America.

After only 3 days in the cinemas, the latest and last Spidey outing disrupted the international market as the highest-grossing...

Cryptocurrency1 month ago

Nike just bought a virtual shoe company that makes NFTs and sneakers ‘for the metaverse’

Nike, the sportswear mogul, recently stunned the globe as it moved into the realm of the metaverse industry and blockchain...

QR code screenshot QR code screenshot
Diversity in Tech2 months ago

BTC did 62% more in transactions than PayPal this year

MasterCard and Visa have always topped as the runaway leaders; however, Bitcoin’s Lightning Network will soon disrupt this norm. Starting...

high angle photo of person holding turned on smartphone with tall buildings background high angle photo of person holding turned on smartphone with tall buildings background
Social Media2 months ago

How to Organically Grow Your Social Media Following In 2022

Instagram On Instagram, use Reels to reach new audiences and grow – find popular sounds and use them in your...

gold-colored Bitcoin gold-colored Bitcoin
Cryptocurrency2 months ago

Julio Domenech On How Banks Can Engage In Bitcoin in 2022

As cryptocurrency continues to become a popular trend in the US, many people are looking for an opportunity to participate...

Diversity in Tech3 months ago

Microsoft Teams, Incorporating New 3D Avatars And Virtual Meeting Spaces Before Mid 2022

Microsoft Mesh has always led as the future of Microsoft Teams meetings. However, Meta, the newly launched Facebook company, is...

Health + Fitness3 months ago

Stephen Campolo – How A Former Fat Kid Transformed His Body And Is Now Helping Others Do The Same

UPDATE: During a recent interview with Yahoo! News, Stephen revealed that he will be speaking at the next Disrupt Puerto...

News3 months ago

Facebook Goes Meta As It Scales Up Beyond Just Social Media

Thursday 28 September 2021, Mark Zuckerberg, the CEO of Facebook, announced Metaverse, a brand for users to interact in virtual...

JaeLz JaeLz
Entrepreneurship3 months ago

JaeLz “No Titles”

JaeLz I’m an independent singer/rapper and songwriter. My Artist name is JaeLz. This article is about my Journey and how...


Copyright © 2020 Disrupt ™ Magazine - Disrupt is a Minority Owned Privately Held Company

Disrupt ™ is the voice of Latino entrepreneurs around the world. We are part of a global movement to increase diversity in the technology industry and we are focused on using entrepreneurship to grow new economies in underserved communities around the world. We enable millennials to become what they want to become in life by learning new skills and leveraging the power of the digital economy. We are living proof that all you need to succeed in this new economy is a landing page and a dream. Disrupt tells the stories of the world top entrepreneurs, developers, creators, and digital marketers and help empower them to teach others the skills they used to grow their careers, chase their passions and create financial freedom for themselves, their families, and their lives, all while living out their true purpose. We recognize the fact that most young people are opting to skip college in exchange for entrepreneurship and real-life experience. This Podcast was designed to give them a taste of that.