Solana Breaks Barriers One by One: What Is The Reason Behind This Rise?

Solana, which has had a very difficult time due to many different developments, including the bankruptcy of FTX**, continues to give much more than the glimmers of hope that its investors expected. SOL token continues to be one of the most talked-about topics in the crypto world, with huge rises in a short period of time.

FTX collapse Solana had traded at a low price for a significant period of time, trading well above $100. However, with its recent moves, the price has crossed the $110 threshold again and has given more than a glimmer of hope. The price has risen over 11 times in 2023 and is filled with a shining star. The SOL, which is currently trading around $ 117, does not show much negative technical data. As Koinfinans.com reported, participation in the ecosystem is also increasing, increasing positive signals.

The increase in the volume traded on the Solana network has reached a remarkable level, surpassing the $31 billion mark. Total Value Locked (TVL) also rose impressively to $1.464 trillion. This meteoric rise is driven by the following factors:

A potential catalyst contributing to Solana's price surge could be the rise of crypto meme coins, which inject a new dimension of interest and speculative enthusiasm into the network. Furthermore, the ongoing airdrop distribution on the network has acted as a powerful magnet, attracting more investors looking to tap into the network's potential.

The network is already very popular in the blockchain world with its fast transactions. With a lower cost compared to the Ethereum network, Solana remains one of the most important projects in the blockchain world.

Increased activity and influx, with profit-seeking traders and airdrop enthusiasts joining the network, seems to be the primary reason for the recent surge.

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