Solana (SOL) hits new highs as DApps, DeFi and stablecoins join the network

The arrival of institutional investors and the rise of decentralized finance (DeFi) has been an incredible boon for the entire cryptocurrency sector but it has also highlighted a number of persistent limitations that many blockchain networks encounter when faced with surges in activity and the need to scale.

High fees and slower transaction times on the (ETH) network have left the door open for new layer-1 solutions to emerge, and Solana (SOL) is one such project that has been gaining traction lately.

SOL/USDT 4-hour chart. Source: TradingView