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Why Solana Jumped 17.5% Today

TheMotleyFool

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The world of cryptocurrencies was on fire this morning, and Solana (CRYPTO: SOL) was leading the way. Solana jumped as much as 17.5% in trading over the last 24 hours and as of 11:30 a.m. ET is up 15.1% on the day.

The biggest news to hit Solana in the last day is word of a $150 million gaming fund from Forte, Griffin Gaming Partners, and Solana Ventures. As the companies backing cryptocurrencies aim to build utility, using games has become a popular growth strategy, and this is a very large fund to build games for Solana. This follows a $100 million fund by Solana Ventures, FTX, and Lightspeed Venture Partners in November to invest in play-to-earn games.

Image source: Getty Images.

Source Fool.com

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