Solana Outperforms Bitcoin And Ethereum In Daily Gains, Pushes Co-Founder Yakovenko To The One Billion Club

(MENAFN- AsiaNet News)

• Solana rose nearly 8% in 24 hours, outperforming Bitcoin and Ethereum during the same period.
• The price rebound likely pushed co-founder Anatoly Yakovenko's estimated net worth toward or above the $1 billion mark, as his wealth remains closely tied to SOL's market performance.
• The move came as large-cap cryptocurrencies broadly recovered, but Solana posted one of the strongest gains among the top tokens.

Solana (SOL) rose over 8% on early Saturday, pushing its co-founder, Anatoly Yakovenko, into the billionaire bracket as the token outpaced other major cryptocurrencies in daily gains.

Bitcoin (BTC), trading at $69,494.69, rose 4%, and Ethereum (ETH), trading at $2,067.19, gained 5.3% in the past 24 hours, leaving Solana as one of the strongest large-cap performers of the day. 

Solana (SOL) traded at around $86.34, up by 8.08% in the last 24 hours and 1.7% over the past seven days. On Stocktwits, the retail sentiment around Solana, however, remained in the 'bearish' territory, with chatter at 'normal' levels over the past day.

SOL retail sentiment and message volume on February 14 as of 8:09 a.m. ET | Source: Stocktwits

The move came as major cryptocurrencies started to recover after the recent bearish market. While most large tokens saw small gains, Solana rose faster than many of them, making it one of the top performers during the session.

Part of the move coincided with fresh institutional flows. U.S. Solana spot exchange-traded funds (ETFs) recorded a daily net inflow of $1.57 million on Friday, pushing total net assets to about $720.78 million, as per data on SoSoValue. The steady additions suggested that demand was not limited to retail traders.

Yakovenko Re-enters The Billionaire Club?

This rally also had a direct impact on Solana co-founder Anatoly Yakovenko's estimated wealth. According to Arkham Intelligence reports, his net worth is placed somewhere between $500 million and $1.2 billion, largely tied to his SOL holdings and equity stake in Solana Labs. As per the reports, a wallet rumored to be linked to Yakovenko holds more than 136,000 SOL, most of which is staked, which means changes in SOL's price can quickly affect the value of his holdings.

Read also: Elon Musk Keeps Word, Blocks 'Spam' Crypto Apps On X While Introducing Crypto Trading With Smart Cashtags

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