Solana has been famously referred to as the ‘Ethereum killer’ in the crypto community owing to its scalability capabilities. The SOL token quickly rose through the ranks to become one of the fastest-growing crypto-currencies of 2020. The price of SOL hit $100 for the first time in August 2021, clocking a market cap of $30 billion.
The rise has been anything but smooth for SOL. After an all-time high of $216 in September 2021, the token plummeted as a result of technical issues which questioned the integrity of the network under stressful conditions.
Greyscale was one of the first institutions to show interest in Solana, with the addition of SOL in their portfolio.