Let’s Talk About Solana Bounce Back For A Second

In as much as we always praise and give bitcoin all the attention of how fast its increase in price gets, I can’t help but talk about Solana. Solana has over time shown that it can bounce right back after a dip with more than 20% increase. Solana came out with this PR of trying to be the next Ethereum, it was labeled as the Ethereum killer, and if we are being honest, that hype was what drove it to its all time high price. Especially the fact that it was faster and cheaper to transact on the chain at the exact moment where transacting on Ethereum was super expensive due to congestion. It was doing so well with its NFT transactions and patronage from people until the chain shut down. After few shutdowns and some excuses for other glitches, people stop paying attention to that chain, but that is because more projects are coming up and crypto is a very competitive place, the technology is constantly evolving and people are constantly moving along.

It’s been a really long time since we heard anything regarding the Solana ecosystem, it’s been quite there. Although one thing I know for sure is that the move to earns on that chain have failed, due to tokenomics and failed promises. But aside that, I have to clap for how quickly Solana bounces back. In December 2022, Solana saw a low of $9, an asset that was once valued at over $200 is getting to that price. After seeing that, a lot of us lost hope in Solana and thought that it was going to be impossible to ever see it get to it’s all time high again. Because $9 and $200 seemed like a very long short, besides, the hype is not there like it used to be there before.

Between December 2022 and January 2023, the price of Solana has pumped for
$9 to $22, that is over 100% increase in a month. All through the year it has managed to maintain that price till yesterday when it got to $30 and passed it just a little. So if you have invested in Solana December 2022 you should be up more than 200% by now. Don’t be surprise to see the price jump to $50 and then $100, because its price renounce is truly amazing.

From the price chart above we can see that the price of Solana has jumped more than 50% in 30 days, which is an impressive increase. I am rooting for thé coin though, it has shown to always bounce back when things start looking greeny in the crypto market.

Posted Using InLeo Alpha