Crypto: Solana is getting back on track!

Recently, SOL, Solana’s native crypto, has experienced dark days amid a general market decline. However, this is not bad news for crypto which still has the weapons to recover. And besides, it’s already going back…

Worrying short-term prospects for Solana…

Thursday, January 18, SOL, Solana’s native asset, experienced a significant setback. The crypto fell almost 9%. Currently, the SOL is valued at 89 dollars and is fighting to try to exceed the symbolic bar of 100 dollars of valuation.

However, the crypto situation is not to be complained about. By placing the recent bearish movement of the SOL in the overall context of the market, we realize that the dynamism of crypto is far from being inevitably understood.

Indeed, we must remember that in December 2023, the SOL crypto experienced an impressive increase of 84%. An increase driven by the frenzy around Jito (JTO), BONK and Dogwifhat (WIF), assets operating on the Solana blockchain via the Solana Program Library (SPL) protocol.

Even though recent corrections in these tokens have dampened investor enthusiasm, optimism still persists. This, thanks in particular to the growth of deposits in the DeFi sector of Solana, among others.

… Well, not so much!

On today alone, the crypto made a gain of almost 6% and is trading around $97. That is to say…

At the same time, Solana’s network activity remained on the rise despite being a notch below competitors like BNB Smart Chain and Polygon.

Furthermore, Solana has established itself as a preferred platform for bandwidth-intensive DApps. It is this operational relevance that is ensured in particular by its architecture designed for the validation of heavy operations.

Additionally, Solana ranked third in terms of volumes in the NFT market ahead of Ethereum by 20%. It is true that the crypto platform has suffered a powerful setback visible in the downward movements of its assets. But its short and medium term outlook nevertheless remains positive in view of recent trends.

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