{"id":514497,"date":"2023-01-03T06:20:16","date_gmt":"2023-01-03T11:20:16","guid":{"rendered":"https:\/\/uniquehot.com\/?p=514497"},"modified":"2023-03-08T07:26:30","modified_gmt":"2023-03-08T07:26:30","slug":"solana-up-13-since-yesterday","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/solana-up-13-since-yesterday\/","title":{"rendered":"Solana Up 13% Since Yesterday, A Sign Of Brighter Things to Come?"},"content":{"rendered":"
The touted \u201cEthereum killer\u201d Solana has been on the down-low since its <\/span>association<\/span><\/a> with the collapsed exchange FTX. However, it seems as though 2023 has new plans for the struggling ecosystem with its native token SOL up by 13% based on <\/span>CoinGecko<\/span><\/a> figures, Tuesday. <\/span><\/p>\n This huge uptick in price led to SOL reclaiming double digits after dipping as long as $7.96 back in December 29.\u00a0<\/span><\/p>\n After the ecosystem lost <\/span>most<\/span><\/a> of its value last year, this price pump is a breath of fresh air for investors and holders of SOL. Even though the bears left their mark on investor sentiment on SOL, some are still bullish for a possible reversal<\/span>.\u00a0<\/span><\/p>\n This, however, is not surprising. Solana has been taking its time in distancing itself from being known as one of the <\/span>\u201cSam coins\u201d<\/span><\/a>, with Messari <\/span>releasing<\/span><\/a> a detailed overview about the ecosystem on December 15.\u00a0<\/span><\/p>\n Solana\u2019s token isn\u2019t the only one that was hit hard, however. Solana\u2019s NFT market has suffered through this whole debacle as DeGods and y00ts, two of the most prominent collections on-chain, decided to <\/span>migrate<\/span><\/a> to Polygon.\u00a0<\/span><\/p>\n Solana NFTs sure don’t look dead pic.twitter.com\/UXNqJ6wRyi<\/a><\/p>\n \u2014 Mamba \ud83d\udc0d (@Mamba248x) December 31, 2022<\/a><\/p><\/blockquote>\n However, this has not stopped Solana from still maintaining its <\/span>top 2<\/span><\/a> spot in terms of NFT sales volume. Transactions also support a bullish future for its native token as it still retains its <\/span>top 1<\/span><\/a> spot in transaction volume according to <\/span>Delphi Digital<\/span><\/a>, an institutional grade research platform.\u00a0<\/span><\/p>\n With Solana leading in active addresses against competitors as well, we can definitely see why the SOL has just shot straight up.\u00a0<\/span><\/p>\n Even though the current bullishness is good news, investors and traders shouldn\u2019t disregard the power of macroeconomics on crypto markets. With SOL still being highly correlated with Bitcoin, we can see SOL\u2019s price move somewhat closely tied to BTC’s price movement.\u00a0<\/span><\/p>\nA Breath Of Fresh Air For Solana<\/strong><\/h2>\n
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Macro And FUD, Not A Great Mix\u00a0<\/strong><\/h2>\n