Solana Starting The New Year With A 14-percent Increase, Will 2023 Be The Best Year For SOL?

Solana's cryptocurrency has increased by 14 percent, a good start to SOL. (Photo; Doc. Currency)

JAKARTA Solana (SOL) cryptocurrency, which ranks 18 Coinmarketcap, experienced an increase of 14 percent on January 2 yesterday. This marks the positive thing for the SOL project which started in 2023.

Even so, the performance of this SOL price places it as the second-largest top gainer in the top 100, adrift of a few percent below Lido which saw an increase of 14.6 percent during the same period.

On the other hand, Solana has experienced shocks during 2022 due to the bankruptcy of the FTX crypto exchange. According to CryptoSlate, since the collapse of FTX, Solana has been stuck in an unfavorable position because it is related to FTX and former CEO Sam Bankman-Fried (SBF).

The Sam Bankman-Fried crypto exchange company is said to hold 58 million SOL tokens and is a significant supporter of the Solana ecosystem through a myriad of developments, including the construction of a decentralized exchange (DEX) of the Serum.

Solana had broken its all-time high on November 6, 2021, at the level of IDR 4,060,868. From its ATH, the price of SOL plunged by 94.46 percent, according to a CoinMarketCap data report.

Will Solana perform in 2023?

Recently, a number of prominent crypto investors and figures have given their support to Solana. One of them is the founder of Ethereum, Vitalik Buterin, who thinks Solana will have a bright future.

On the other hand, the crypto community also warns that the deepest price drop or the dip is not over yet. One of the crypto communities, @TheEliteCrypto warned that "the fall [price] may not be over yet."

In addition, according to a report by @585.ETH, Solana has the highest sales volume for NFT. Solana's NFT trading volume is the second largest after Ethereum.

"Just a reminder besides Ethereum and regardless of all, Solana has more NFT volume than any other combined chain," Buterin said. He himself considered that Solana had been washed away from the financial criminals in it. After that, SOL was claimed to have a bright future.

"Now the terrible opportunistic money people have been washed, the chain has a bright future."

For additional information, Solana is a highly functional open source project that utilizes the unlicensed nature of blockchain technology to provide decentralized financial solutions (DeFi). While the idea and initial project work began in 2017, Solana was officially launched in March 2020 by the Solana Foundation headquartered in Geneva, Switzerland.