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Solana (SOL) falls below $190 in prelude to bull season
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After surpassing the US$220 mark in the first week of the year, the Solana has undergone a correction. Currently, the token is fluctuating between $185 and $190anchored in the current moment of decline in cryptocurrencies.
Bitcoin, which reached US$100,000 again, returned to levels of US$94,000. Just like Ethereum, which returned to US$3,200 after reaching a high of US$3,600.
To the Sudden drops in the price of almost all cryptocurrencies could be an indication that the market has entered a period of “tidying up”. From January 20th, Donald Trump’s second government begins.
The president’s recent speeches, who, even without taking office, have already declared that the US must cut interest rates to reduce public spending on debt, encourage the cryptocurrency market
Growth of 9,900%
With lower rates, the search for risky investments increases, directly benefiting cryptocurrencies. Furthermore, in Washington there are rumors that the new SEC, led by Trump strongman Paul Atkinsmust approve SOL ETFs, motivating a new rally for cryptocurrency. In addition to the favorable winds coming from Washington, news is emerging within Solana itself that could boost the price of the cryptocurrency.
Solana, announced in 2020, jumped from a transaction volume in the millions to billions. In the first year, the amount of tokens never exceeded US$100 million. The network’s success attracted developers and, in just under five years, the network began transacting US$10 billion in tokens every day, on average.
However, the high number of developers who have started using the Solana network to run and develop decentralized applications (dApps) have caused moments of slowness in the network. Just like all major blockchain networks, in Solana transaction validation and processing takes place at the main layer, called Layer 1.
As a result, solutions such as Solaxy, created to operate in Layer 2, can contribute to improving the speed of data exchange and processing. This way, they can improve Solana’s infrastructure. Raising more than US$9 million, the project stands out for being the first built in layer 2 of the network.
Furthermore, the project is expected to become multi-chainallowing processing on separate blockchains, such as Solana and Ethereum. The token $SOLX is costing $0.001596 and can be purchased directly through the project website or through the Best Wallet cryptocurrency wallet.
Solana (SOL) falls below $190 in prelude to bull season
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Solana (SOL) falls below $190 in prelude to bull season
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Solana (SOL) falls below $190 in prelude to bull season
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Solana (SOL) falls below $190 in prelude to bull season
