Solana and BNB cryptocurrencies have risen to their highest values in two years

Today, the internal token of the Solana blockchain platform (SOL) reached a new annual high, jumping to $168 on the Binance cryptocurrency exchange paired with Tether USD (USDT). Over the past week, the value of this cryptocurrency has increased by about 21%.

Since the beginning of the year, the value of Solana has risen by 65%, although it has not reached its record level of $250, recorded in November 2021 during the boom in the crypto market. The current market capitalization of SOL exceeds $70 billion, which allows this token to occupy the fifth position among cryptocurrencies after bitcoin (BTC), Ethereum (ETH), USDT and BNB.

The BNB token from Binance, which occupies the fourth position by capitalization, increased in price by 44% over the week. BNB is currently trading at $618, approaching its all-time high of $691 set in May 2021. The trading volume of this coin increased by 52% during the day.

Analysts point to the redistribution of investors' funds towards large alternative coins. They attribute the rise in the price of BNB to the growing interest in the Binance exchange Launchpool program, where participants invest BNB and receive tokens of new projects, which they then sell on the market, re-investing in BNB.

Other leading cryptocurrencies from the top 10 by capitalization also showed positive dynamics during the current week. The Cardano blockchain token (ADA) grew by more than 4%, Ripple (XRP) increased by 10%, and Dogecoin (DOGE), along with other memecoins, jumped by 21%.