Solana flipped Polygon on January 15 to be the tenth largest crypto asset by market cap, following a seven-day rally that noticed it rise by over 70%, in keeping with CoinMarketCap knowledge.
Following FTX’s collapse in November, SOL’s worth efficiency was negatively impacted due to its relationship with Sam Bankman-Fried. Nonetheless, constructive sentiments appeared to have returned to the digital asset, because it has gained roughly 135% for the reason that begin of this yr -making it one of many best-performing cryptocurrencies in 2023.
SOL Re-enters Prime 10 Property
On the peak of the FUD, Solana traded for as little as $9, and two of its prime NFT tasks ditched it for different blockchain networks.
However its huge worth efficiency over the past two weeks has greater than doubled its worth to $23.34 as of press time. The spectacular run additionally noticed it re-enter the highest 10 digital property by market cap.
In line with CoinMarketcap knowledge, Solana’s market cap rose to over $9 billion within the final seven days from $5 billion.
The co-founder of a gaming mission on Solana, Mamba, said the religion of the community believers had been repaid as SOL gained 165% in 15 days. In line with Mamba, SBF leaving was good for the blockchain, and the community’s expertise is bettering.
Solana Lively Wallets Rises 3x
Solana’s lively pockets has risen by greater than thrice since FTX collapsed in November, in keeping with Messari data. Delphi Digital data additionally reveals that decentralized exchanges on Solana DEXs have seen an 83% enhance in whole lively wallets for the reason that starting of 2023.
In line with Delphi Digital, the full variety of lively wallets on Solana elevated to 83,000 from virtually 45,000 per day.
As BeinCrypto beforehand reported, Solana’s elevated lively pockets numbers coincided with the rise of a brand new memecoin, Bonk Inu, inside its ecosystem. The memecoin rallied by over 130%, bringing again curiosity into the ecosystem. Nonetheless, it has since crashed by over 38% within the final seven days.
BeInCrypto has reached out to firm or particular person concerned within the story to get an official assertion concerning the current developments, nevertheless it has but to listen to again.