Solana Enjoys Christmas Miracle Pump While Market Stalls

Solana embraces the festive spirit to surge past $120 for the first time since May 2022.

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  • While Bitcoin and Ethereum misplace their festive spirit, Solana experiences a massive pump. 
  • Over the weekend, Solana recorded double-digit gains. 
  • Experts suggest BONK traders could be behind the rally.

‘Tis the season of festivities, but the crypto market lacks the holiday cheer, with Bitcoin, Ethereum, and other major tokens caught in indecision, uncertain if they want to rally before the year ends. However, amid this hesitancy, there’s one standout performer– Solana. 

Embracing the festive Christmas spirit with gusto, Solana is surging confidently, surpassing significant levels and revisiting price points last seen years ago. 

Solana Embraces the Christmas Spirit

While the top ten tokens enjoyed the calm holiday vibes, Solana led the pack with festivities, unable to contain its excitement as it surged past $120 this Christmas Day. Over the weekend, SOL became an unstoppable force, breaking through level after level and notching impressive gains. 


Since Friday, December 22, SOL has surged 40%, pumping from $90 to $126, marking a new yearly high. In its merry ascent, Solana displaced BNB, earning the title of the fourth-largest crypto in the market, with a market cap exceeding $51 billion at press time. 

In stark contrast, Bitcoin seems to have misplaced a bit of its festive spirit, losing 3% in value and dropping from $44,200 on Friday to $43,000 on Christmas Eve. Similarly, Ethereum experienced a 4% dip, decreasing from $2350 to $2240 during the same period.

Interestingly, Solana last saw these price levels on the eve of Terra’s collapse a year and a half ago in May 2022. Experts suggest much of the optimism surrounding SOL is due to the  BONK craze, Solana’s inaugural Shiba-Inu-themed memecoin that has caused quite a stir lately. 


Traders have recently been flocking in large numbers, buying BONK every chance. 

On the Flipside 

  • Despite its surge, defunct exchange FTX still holds millions in Solana tokens, most of which will hit the market in 2025. 
  • The BONK memecoin frenzy has resulted in the complete sell-out of Solana’s initially struggling flagship phone.

Why This Matters

Solana is emerging as a solid contender in the crypto market as it outperforms its rivals by huge margins. This performance charts a very positive course for what to expect next year.

Read how BUSD Issuer got approval to launch its new stablecoin on Solana:
Paxos Receives Nod to Launch New Stablecoin on Solana

The SEC has set a new deadline. Read More:
SEC Calls For Final Changes as Potential ETF Approval Looms 

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Insha Zia

Insha Zia is a senior journalist at DailyCoin covering crypto developments, especially in the Cardano ecosystem. With a Bachelor of Science in Computer Systems Engineering, he delivers high-quality articles with his technical background and expertise in data analysis and programming languages, aiming to educate and inform readers accurately, transparently, and engagingly. Insha believes education can drive mass adoption of the crypto space, and he is committed to giving DailyCoin readers a better understanding of the technology.