The price of Solana rises above 100%, reaching a new all-time high. The value of Avalanche grows by more than 47%, and its number of transactions increases by more than 500% in one month.
The general crypto market has shown some ups and downs so far in September. Although it started the month with a significant recovery trend, the price of most altcoins has fallen in the last two weeks.
Amid those ups and downs, two cryptocurrencies lead the monthly top, exhibiting a rising average. According to Live Coin Watch, Solana (SOL) hit a new all-time high while the volume of Avalanche (AVAX) transactions grew by more than 500%.
The price of Bitcoin (BTC) has fallen by around 9.9% so far this month. It ranged between USD 40,769 and USD 52,615, a high that it reached on September 6th.
The most recent drop in the value of the BTC market and the rest of the markets could be due to Evergrande’s liquidity crisis. That real estate company, one of the largest in China, might not be able to meet million-dollar interest payments.
Solana Reaches a New All-Time High in September
Although Solana is a blockchain of only 18 months, it is in the top 10 cryptocurrencies with the largest market capitalization. That takes place amid expectations that it will become one of Ethereum’s main competitors in the long term.
SOL has substantially advanced in September, reaching an all-time high above USD 214 and a growth of more than 66%. During that expansion, the platform was a victim of its own success as it suffered a crash in the middle of the month.
A stoppage of the cryptocurrency Solana led to a halt to block mining for more than 8 hours. That caused an unintended fork of the network due to a problem that miners had to face. The failure may have occurred due to saturation for an excessive number of transactions or a denial of service (DoS) attack.
That event did not directly impact the price of SOL, as it remained above USD 160. Solana’s market capitalization is more than USD 41 billion, and the daily trading volume is above USD 2.9 billion.
The Number of Avalanche Transactions Grows by Over 500%
The Avalanche cryptocurrency, AVAX, has remained among the most appreciated cryptocurrencies for three weeks. Its growth of more than 47% in 30 days also places it on that list.
On September 18th, the cryptocurrency peaked at USD 75.09, the highest value in its history. The price of AVAX exceeded the previous figure on the 23rd of this month when it traded at USD 79.41.
Daily network transactions increased from 43,243 on August 18th to 220,222 on September 12th by around 500%. The new all-time high occurred as AVAX rallied after the general market crash of September 20th.
The market capitalization of AVAX is more than USD 15,260 million, and the daily trading volume is above USD 1,134 million.
By Alexander Salazar
