Solana re-enters top 10 digital assets with impressive 135% rally

According to CoinMarketCap data, Solana became the 10th largest crypto asset by market cap on January 15 after a seven-day rally that saw gains of over 70%.

Following the collapse of FTX in November, SOL’s price performance was negatively impacted by its relationship with Sam Bankman-Fried. However, positive sentiment has returned to the digital asset as it has gained almost 135% since the beginning of the year – making it one of the best performing cryptocurrencies in 2023.

SOL re-enters top 10 assets

At the height of the FUD, Solana was trading as low as $9, with two of its top NFT projects leaving it to other blockchain networks.

But its massive price performance over the past two weeks has more than doubled its value to $23.34 at press time. The impressive run saw it re-enter the top 10 digital assets by market cap.

According to data from Coinmarketcap, Solana’s market cap grew from $5 billion to $9 billion in the last seven days.

Solana, co-founder of a gaming project on Mamba, Told The faith of network believers was repaid as SOL increased by 165% in 15 days. According to Mamba, leaving SBF was good for the blockchain, and the technology of the network is improving.

Solana Active Wallets grew 3x

Solana’s active wallets have more than tripled since the FTX crash in November, according to Messari statistics, delphi digital statistics It also shows that decentralized exchanges on the Solana DEX have seen an 83% increase in total active wallets since the beginning of 2023.

According to Delphi Digital, the total number of active wallets on Solana grew from about 45,000 per day to 83,000.

As BeinCrypto previously reported, Solana’s increased active wallet count coincides with the rise of a new memecoin, Bonk Inu, within its ecosystem. Memecoin surged by over 130%, bringing interest back into the ecosystem. However, it has declined by more than 38% in the last seven days.