Who would’ve thought that after the general disaster that introduced virtually all cryptocurrencies down final yr are actually lastly displaying indicators of restoration? Within the first two weeks of 2023, most cryptos have proven an uptrend of their worth of greater than 15%. And amongst these top performers is Solana.
SOL has finally reached its all-time high (to this point) this yr after reaching a worth of $23.79 from $12. It’s now ranked eleventh place within the largest digital asset based mostly on its market capitalization. The massive query now could be, are we wanting into an extra improve of $30?
It’s in all probability too early to inform as Solana simply began to get well from the FTX and Alameda crash last year. At this stage, it seems that over $700 in SOL and $500 million in SPL tokens are about to be liquidated to repay collectors because of the ongoing FTX investigation. Up to now 24 hours, over $5.18 million tokens have been liquidated already (in line with Coinglass). On this case, an upcoming downtrend is anticipated within the coming weeks.
Nonetheless, it’s nonetheless signal for the Solana ecosystem. In truth, the launch of Solflare — a pockets constructed for the Solana blockchain — bought constructive consideration from the group. Solflare permits customers to pay precedence gasoline charges to push by way of community congestion. It routinely detects if the Solana community is congested and can barely improve charges to prioritize a transaction over others.
There’s nonetheless a lot to catch within the coming months for Solana and different cryptos in the market so it’s higher to be careful for some unimaginable updates.