Ethereum Rival Solana (SOL) Surged 109%

The crypto market is looking great at the beginning of 2023, and there are all kinds of optimistic predictions about the prices of digital assets. Check out the latest reports about SOL’s prices below.

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 the time of writing, on the other hand, SOL is up 103% in less than two weeks. At the moment of writing this article, currently changing hands at $16.91.

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

As the online publication the Daily Hodl notes, 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.”

Not too long ago, we revealed that the dog-themed crypto built on the smart contract platform Solana (SOL) is surging despite the SOL ecosystem’s recent struggles.

The online publication the Daily Hodl notes that Bonk (BONK), a new Dogecoin (DOGE) and Shiba Inu (SHIB) rival, has seen significant gains since its debut on December 29, 2022.

“The meme asset went from a weekly low of $0.00000008889 to a high of $0.00000439 on Thursday, a massive 4,838% gain.”

Stay tuned for more news from the crypto space, and make sure to check out the crypto market as well.