Cryptocurrency Solana, one of the altcoins that was deeply affected by the collapse of FTX in the market, finally became one of the largest coins in terms of market value after the recent movements in the market.
SOL was deeply affected by the collapse of FTX, but now it’s back on its feet and making a name for itself once again in the market.
Solana (SOL) Re-enters Top Coins, Beating Polygon (MATIC)
At the time of this writing, SOL is trading at $23.30, and has gained 4.85% in the last 24 hours. This is Solana’s 10th Polygon (MATIC) helped him pass and take his place in the top 10.
SOL recorded a price increase of 134% in January, a significant increase compared to MATIC, which only increased 28.9%. However, it was not only the Solana token’s price that returned to at least reasonable levels, but also its activity on the network.
According to Token Terminal, the number of daily active blockchain users has exceeded 150,000, returning to “pre-FTX” levels. This is a positive sign that the coin is once again gaining traction among investors and traders.
At the same time, the number and amount of fees increased accordingly, as did the income of the validators. This is a good indication that the network is becoming more active and more people are using the Solana blockchain for their transactions.
Activity in the NFT segment, which has traditionally been a strong market for SOL, has also increased. This is an interesting development, especially considering that it took place just days after the major digital art studios switched from Solana to Polygon.
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!