BeInCrypto – It overtook Polygon on Jan. 15 to become the 10th-largest cryptocurrency by market cap, after a seven-day rally that saw it gain more than 70%, according to data from CoinMarketCap.
After the collapse of FTX in November, SOL’s price performance was negatively affected by its relationship with Sam Bankman-Fried.
However, positive sentiment seems to have returned to digital assets, such as It has gained about 135% since the beginning of this yearmaking it one of the best performing cryptocurrencies in 2023.
Source: CoinMarketCap
SOL enters the top 10 cryptocurrencies again
At the height of FUD, Solana was trading for as low as $9, and Two major NFT projects have abandoned it to other blockchain networks.
But the massive price performance over the past two weeks has pushed its value to $23.23 at the time of writing. The impressive rise also saw it re-enter the top 10 digital assets by market capitalization.
According to CoinMarketcap data, Solana’s market capitalization has increased to more than $9 billion in the past seven daysfrom $5 billion.
The co-founder of a gaming project in Solana, Mamba, said the faith of believers in the network has been rewarded, with SOL gaining 165% in 15 days. According to Mamba, The exit of SBF was good for the blockchain, and network technology is improving.
Solana’s active wallets increase by 3 times
Solana’s portfolios have more than tripled since the November FTX crash, according to Messari data. Data from Delphi Digital also shows that Solana is a decentralized exchange Saw an 83% increase in total active portfolios Since the beginning of 2023.
According to Delphi Digital, the total number of daily active wallets on Solana has risen to 83,000 from about 45,000.
As previously reported by BeinCrypto, Solana’s increased number of active wallets coincided with the emergence of a new meme cryptocurrency, Bonk Inu, within its ecosystem.
The meme cryptocurrency is up more than 130%, bringing interest back into the ecosystem. however, It has since fallen by more than 38% in the past seven days.
Solana’s return to the top 10 cryptocurrency after a 135% rally was first seen on BeInCrypto.
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