Home crypto news Ethereum Rival Solana (SOL) Surges 109% From Lows As Crypto Markets Turn Green

Ethereum Rival Solana (SOL) Surges 109% From Lows As Crypto Markets Turn Green

by pfuwi
0 comment

Solana (SOL), one of Ethereum’s (ETH) biggest competitors, has more than doubled in price since it collapsed to $8.30.

SOL’s local low of $8.30 marked a nearly 97% drop from its all-time highs, and created uncertainty surrounding the future of Solana.

Solana Labs and the Solana Foundation both had exposure to FTX, and the close ties between the organizations put significant sell pressure on SOL.

At time of writing, however, SOL is up 103% in less than two weeks, currently changing hands at $16.91. Earlier today, SOL hit $17.37, a 109% gain from $8.30.

The Solana ecosystem is generally seeing improved sentiment, as its own Dogecoin (DOGE) competitor makes waves through the markets.

Bonk Coin (BONK) is a meme coin built for the Solana community to re-energize itself following the collapse of FTX and its subsequent effect on SOL. 50% of the total supply of BONK tokens was airdropped to Solana holders, and at time of writing, BONK has a market cap of $51 million.

BONK launched at a price of $0.000000086142 and exploded to a high of $0.00000439 on Thursday, a massive 4,838% gain that vastly outperformed DOGE and Shiba Inu (SHIB). BONK has since cooled off and corrected over 67% at time of writing.

Yesterday, Solana Foundation experienced technical difficulties and announced that RPC (remote procedure call) endpoints weren’t working because of a bug found in 1.14. Solana Status, a Twitter page giving updates on the blockchain said that block production and the Solana network were not affected but advised switching back to version 1.13.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Source link

The post Ethereum Rival Solana (SOL) Surges 109% From Lows As Crypto Markets Turn Green appeared first on 10Z Viral.

You may also like

Leave a Comment

Our Company

newswebby is where tomorrow is realized. it is the essential source of information and ideas that make sense of a world in constant transformation. the newswebby conversation illuminates how technology is changing every aspect of our lives—from culture to business, science to design. the breakthroughs and innovations that we uncover lead to new ways of thinking, new connections, and new industries.


Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Laest News

© 2023  – All Right Reserved. Newswebby