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3 reasons why Solana (SOL) price is rising this week
After falling to a two-month low of $17.34 on September 11, SOL re-established the $20 support on September 29. This created some confidence in the bulls. The price action coincided with the Solana network performing a successful upgrade to version 1.16. Thus, SOL increased by 16 percent in the next seven days.
SOL's rally was also supported by growth in the use of decentralized applications (DApps) and rising fungible token (NFT) volumes on Solana. SOL's price is currently attempting to form a support at $23 and surpass ADA to solidify its position as the fifth-largest cryptocurrency (excluding stablecoins) by market cap.
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