This Ethereum Rival Has Spiked 20% This Week Thanks To Massive Gaming-Related Buzz

Solana (SOL) traded 9.2% higher at $103.45 over 24 hours leading up to Thursday night amid exuberance surrounding gaming. 

Solana Price Performance
Time-frame % Change (+/-)
24-hour 9%
24-hour against Bitcoin BTC/USD 7.25%
24-hour against Ethereum ETH/USD 6.6%
7-day 20%
30-day 19%

YTD performance

-41.75%

See Also: How To Buy Solana (SOL)

Why Is It Moving? Solana has been one of the top gainers this week, according to CoinMarketCap data — having risen nearly 20%.

The so-called Ethereum-killer has been buoyant after Krafton, the creator of the popular video game “PUBG: Battlegrounds,” announced it had signed a long-term business agreement with Solana Labs related to the design and marketing of blockchain-based games and services. 

The two companies will also jointly cooperate on investment opportunities, according to a Krafton statement. 

This week, Block Tackle, a new game studio backed by Animoca Brands, Coinbase Ventures, Solana Ventures among others, announced its debut title  “SkateX” which is a Solana-based skateboarding game.

The co-founders of Block Tackle Rob Oshima and Ben Topkins have worked on titles such as “MARVEL Strike Force” and “AVATAR: Pandora Rising.” 

They are both veterans from Kabam — a company known for games such as “MARVEL Contest of Champions” and “Transformers: Forged to Fight.”

Other factors that have worked in favor of Solana this week include the non-profit The Giving Block announcing support for Solana blockchain to its platform and Grayscale launching a non-Ethereum fund that includes Solana.

Read Next: Why Are Axie Infinity (AXS) And Smooth Love Potion (SLP) Tokens Soaring Today?

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