Solana seems to be on an unstoppable upward trajectory, soaring by another 12% in the past 24 hours, hitting its highest level in 14 months at $46. With this surge, Solana has recovered all losses following the collapse of the FTX crypto exchange.
The prices of SOL and FTX remain uncertain, with a staggering amount of over 500,000 Solana coins equating to a remarkable $21 million, according to Spot on Chain data.
Bullish traders continue to maintain dominance in driving up Solana (SOL) prices, pushing Solana’s monthly gains to over 80%. Additionally, Solana currently outperforms all other top ten digital currencies with gains exceeding 350% since the beginning of the year.
Moreover, Solana’s DeFi TVL has also shown significant activity in recent weeks, indicating a robust level of engagement.
It will be interesting to observe whether Solana can sustain itself at the $40 USD support level to fuel a climb towards $50 USD.
Solana is experiencing a notable surge as the project strives to distance itself from its previous association with crypto luminary Sam Bankman-Fried. One contributing factor to SOL’s rise is Solana’s impressive operational record, experiencing only one network disruption in 2023 compared to 14 incidents in the previous year.
At Breakpoint 2023, Solana unveiled significant advancements in blockchain accessibility and integration. For the first time, Solana offers its contract availability on Amazon Web Services (AWS) through the Node Runner application.
This announcement marks a significant leap forward, making the Solana network accessible to global enterprises and companies. Access to Solana’s contract via AWS simplifies consensus deployment and remote procedure calls (RPC), eliminating the need for extensive technical expertise.
This enhancement enables enterprises to seamlessly link their decentralized applications (dApps) with the Solana blockchain, fully unleashing high productivity capabilities and cost-effective transactions.
“This represents a step forward for the Solana ecosystem. The expertise required to operate the node has significantly decreased, making deployment on Solana easier than ever before.”
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