Photo by Omid Armin on Unsplash

Cryptocurrency Solana has increased in value over the last few weeks as the coin is becoming more utilized for creating play-to-earn games. Here’s a look at how investors could perform if they invest in Solana now and the coin returns to all-time highs.

What Happened?

Solana has been a top performing coin over the last week, rising over 20% on the heels of some game related announcements.

Krafton, which is the company behind popular video game “PUBG: Battlegrounds,” signed an agreement with Solana Labs to develop blockchain games and services.

Block Tackle, a game studio backed by The Sandbox owner Animoca Brands and others, announced its debut game will be “SkateX,” a Solana-based skateboarding game. Block Tackle also counts Coinbase Global Inc (COIN) as an investor.

Grayscale Investments, the company behind the popular Grayscale Bitcoin Trust (GBTC) also announced plans to launch an altcoin fund that will see Solana and Cardano as the top two holdings, with each coin making up around 24% of assets under management.

Investing $100

Despite the rise in the value of Solana, there could be more upside for investors, as the coin is still trading well off from all-time highs set in November 2021.

Solana has traded between $16.35 and $260.06 over the last 52-weeks. The coin hit an all-time high in November 2021 and continued to trade strong in November and December.

Solana began 2022 trading around $170 and fell in the first few months of the year.

A $100 investment in Solana could buy 0.9806 SOL coins at the time of writing, based on a price of $101.98.

If Solana returns to an all-time high of $260.06, the $100 investment would be worth $255.01, representing a return of 155%.