Solana (SOL) Retests 18-Month High in Altcoin Gold Standard Reset
What conspiracies await us when Solana (SOL) breaks free from the continuous stagnation of the past 18 months?
It can be said that Solana (SOL), with its current price movement, has changed the “gold standard” in the world of alternative currencies.
As of the writing of this report, Solana’s stock rose by 17.88% to reach $62.07, a clear indication of its growth decoupling from Bitcoin. Trading volume increased by 12.65% to $3,355,376,632, at a time when Bitcoin and other alternative currencies struggle to maintain price stability.
While Solana ignored the impact of the FTX saga a few weeks ago when its price retested pre-FTX bankruptcy levels, current expectations indicate that its price has been extended to reach a new high within 18 months.
Within the Solana ecosystem, we have witnessed a renewal that includes the effects seen in the adoption of Grayscale Trust, an increase in decentralized protocol funding, and an increase in instant exchange trading.
READ MORE The analyst indicates that the price level of Solana (SOL) is critical.
It is widely agreed that Solana deserves all the positive attention it is receiving today, as it has spent most of the year building its ecosystem and adding value that users can truly hold on to.
Solana’s (SOL) price has been redefined for the discovery of a new era. Now that Solana (SOL) has surpassed itself from the beginning of the year to date, it has effectively entered a phase of price discovery to erase as much as possible of the 76.24% loss the currency holds to break its all-time high (ATH) of $260.
This comes with FTX’s sale of its assets impacting price stability as Solana moves forward.
With new targets in place, there is limited room for fear of liquidation. With the protocol’s 45% increase in the past seven days and 173% in the last month, there is consensus that it still has more to come this year.
Disclaimer: The information provided is not financial advice. Chinwa.tech does not take any responsibility for investments made based on the information provided in this article. We recommend consulting a qualified specialist or financial advisor before making any investment decisions.
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