Solana’s Surge Propels Sharp Rise In Google Searches, Analyst Says BONK Also A Catalyst
By Benzinga
Google’s search volume for the term “Solana (CRYPTO: SOL) ” has experienced a significant surge, increasing by 250% over the past two months.
What Happened: Data released on Sunday by The Block indicates that the search volume for the term “Solana” has gone up from a score of 14 in early October to 49 in early December, on a scale that ranges from 0 to 100.
The Block’s research analyst, Rebecca Stevens, has linked this surge to the robust price performance of Solana, which has likely generated increased interest. In addition, the recent rise in popularity of memecoin BONK (CRYPTO: BONK) on Solana’s network might have played a role in the surge in search volume.
Why It Matters: Solana’s price soared 224% between October 11 and December 18. Prominent figures in the crypto industry, including CEO of ARK Invest, Cathie Wood, have lauded Solana for its faster and more cost-effective transactions compared to Ethereum (CRYPTO: ETH).
Over the same timeframe, search volumes for other cryptocurrencies like “Bitcoin (CRYPTO: BTC)” and “Ethereum” have also risen, although at a more gradual pace.
In other news, Solana Saga phones, which previously had trouble finding buyers, have sold out, fetching prices as high as $5,000 on eBay. Solana Saga phones sold out both on their official website and on eBay for the first time, due to a surge in demand for the complimentary Bonk memecoin airdrop. The phones were sold for up to $5,000, over eight times their retail price.
Photo by Rafapress on Shutterstock
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
