SOL in the spotlight: latest news

Solana (SOL) has faced challenges in regaining momentum following multiple unsuccessful recovery efforts in recent days. However, the altcoin has successfully avoided creating new lows as it approaches a potential bullish crossover, coinciding with a surge in new addresses reaching a monthly peak.

Solana is one of the leading altcoins by market capitalization. Like Ethereum, it enables third-party developers to create applications and smart contracts using its blockchain technology.

In the latest CoinDesk 20 performance update, Solana (SOL) experienced a gain of 4.5%, contributing to an overall increase in the index. Bitcoin Cash (BCH) also performed well, rising by 2% since Wednesday.

Bitcoin remains stable after a notable rally on Tuesday, while Ethereum is experiencing unusual volatility in contrast to Bitcoin. Solana, on the other hand, is making significant gains amidst the backdrop of developments in China and the White House.