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Solana (SOL) Price Hits Cycle High, Joins $100B Market Cap Club in Broad Crypto Rally

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Credit : www.coindesk.com

Solana made a outstanding comeback after the 2022 collapse of Sam Bankman-Fried’s FTX and Alameda Analysis, a key backer of the nascent good contract platform. The chain emerged because the ecosystem for personal crypto customers and a hotbed of this cycle’s memecoin craze, the place for instance the favored pump.nice protocol. The resurgence of decentralized finance (DeFi) exercise additionally benefited the community, making Solana’s on-chain buying and selling ecosystem the third most worthwhile sector in crypto, in line with a latest Coinbase report famous. The Solana token was a standout amongst altcoins throughout final yr’s largely Bitcoin-dominated bull market, with a 275% annualized appreciation.

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