Having gone through very difficult times due to many different developments, including the bankruptcy of FTX solanacontinues to provide much more than the glimmers of hope its investors expect. SOL token continues to be one of the most talked about assets in the crypto world with its huge rises in a short time.
FTX crash Trading well above $100, Solana had been trading at a low price for a significant period of time. However, with its recent moves, the price exceeded the $ 110 threshold again and gave more than glimmers of hope. The price rose more than 11 times in 2023 and became a shining star. Currently trading around $117, SOL does not show much negative technical data. As we reported as Koinfinans.com, participation in the ecosystem is also increasing, increasing the positive signals.
The increase in the volume traded on the Solana network reached a remarkable level, exceeding the $ 31 billion mark. Total Value Locked (TVL) also rose to an impressive $1.464 trillion. This meteoric rise is driven by the following factors:
A potential catalyst contributing to Solana’s price rise could be the rise of crypto meme coins, which have injected a new dimension of interest and speculative enthusiasm into the network. Additionally, the ongoing airdrop distribution on the network has acted as a powerful magnet, attracting more investors looking to leverage the network’s potential.
The network is already very popular in the blockchain world with the fast transactions it carries out. Solana, which has a lower cost compared to the Ethereum network, continues to be one of the most important projects in the blockchain world.
Increasing activity and flow, as traders and airdrop enthusiasts who want to make a profit join the network, seem to be the main reason for the recent rise.