Why did the price of Solana (SOL) increase this week?

GROUND meteoric increase has A new 2023 high appears has be led by SPL tokens And A overvoltage In Challenge And NFT activity

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by Solana native token (GROUND) jumped by 17% between Dec. 7 And Dec. 8, reach It is The highest level Since Can 2022.

GROUND fate amended dramatically on Dec. 1 When Brian Armstrong, CEO of Coinbase, revealed A plan has to integrate THE Solana network, including It is tokens, although No specific date has has been provided. This news sets off interest In Bonk (BONK), A Solana SPL even token listed on Bye, KuCoin, And by Solana decentralized exchange, Orca, which won 236% between Dec. 1 And Dec. 8.

On Dec. 6, Coinbase exchange announcement THE SEO of Jito (JTO), A SPL token on THE Solana network, which saw instant success as JTO double In price between Dec. 7 And Dec. 8. With THE current circulated provide of 115 million, at Jito walk capitalization NOW stands has $422 millions.

THE governance token of THE Based on Solana liquid staking protocol Jito led A airdrop of 80 million tokens has early users, validators, And protocol contributors. In total, approximately 9,900 addresses staked GROUND using Jito in front of THE instant date, resulting In A impressive distribution of 4,941 JTO tokens For each participant.

THE decentralized finance (Challenge) application Jito allow users has advantage Since GROUND staking And receive A derivative JitoSOL token In exchange For additional flexibility And yields, A common practical In THE Ethereum ecosystem through THE Pool platform. According to has Coingecko order book depth, Binance led THE JTO walk with offers totaling $606,000.

Jito markets class by -2% offers on Dec. 8, USD. Source: Quince....