Solana emerges as the most-trending coin, price unmoved despite 8,000 wallets hacked

Solana emerges as the most-trending coin, price unmoved despite 8,000 wallets hacked
2 weeks ago
2 mins read

Even though the cryptocurrency market is struggling to regain its strength after a difficult couple of months, culminating with a recent hack on the Solana (SOL) ecosystem, its token has taken over as the most trending crypto in the last 24 hours.

As it happens, over the past day, SOL has emerged as the leader of the crypto trending list, according to CoinMarketCap data retrieved on August 4. This way, it overthrew the previous leader Terra (LUNA) that led the way two days ago but is now in fifth place.

Top 5 trending cryptocurrencies in 24 hours. Source: CoinMarketCap

Following Solana as the most searched digital asset on the CoinMarketCap platform out of all the cryptos as of August 4, is Seedify.fund (SFUND) – a token of Seedify, the blockchain gaming incubator and launchpad, with price gains of 8.60% over the last 24 hours.  

Meanwhile, cross-chain social media integrated non-fungible token (NFT) marketplace LooBr (LOOBR) comes in third, advancing 11.13% on the day, whereas automated market maker PancakeSwap’s CAKE token is in fourth place, recording a 1.14% increase across the previous day.

Solana unmoved by the major hack attack

Solana’s price and popularity don’t seem to be majorly affected by the incident that saw close to 8,000 crypto wallets drained of more than $5.8 million in digital assets, including SOL and USD Coin (USDC), according to the blockchain consultancy firm Elliptic.

As things stand, the decentralized finance (DeFi) token is currently trading at $39.01, which represents a 0.99% drop on the day, as well as a 1.38% decline across the previous seven days.

Solana 7-day price chart. Source: CoinMarketCap

Interestingly, seven days ago, Finbold reported on the exceptionally bullish predictions made by the CoinMarketCap community that estimated that the SOL token would trade at a median price of $250 by the end of August.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

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Ana Nicenko

Ana Nicenko has a plethora of knowledge and experience as a journalist covering the cryptocurrency and blockchain industries, having written for a variety of projects and organizations. Additionally, Ana has a master's degree in English Language and Literature. At Finbold, she reports news on the digital assets sector.