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Analyzing whether Solana can continue its bull run following fresh milestone 

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Analyzing whether Solana can continue its bull run following fresh milestone 

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  • Solana becomes the second blockchain to have two independent validator clients.
  • Galaxy Score and other metrics looked in SOL’s favor.

Solana [SOL] recently reached a new milestone as it became the second blockchain to have two independent validator clients. According to an announcement on 13 January, Firedancer has become the ecosystem’s new validator. This new onboarding will reduce contention in Solana’s parallel VM, resulting in more efficient block production.


Is your portfolio green? Check the Solana Profit Calculator


What’s in store for the NFT space of Solana? 

The end of 2022 was not as expected for Solana’s NFT ecosystem, as several top NFT projects, including y00t, announced that they would bridge to Polygon [MATIC] during the first quarter of 2023. However, the new year brought good news for Solana.

Solana Daily, a Twitter handle that posts updates related to the ecosystem, revealed the upcoming Solana NFTs by Upvoting on Magic Eden in a tweet on 13 January.  

Santiment’s chart also painted a positive picture of the ecosystem’s NFT space. According to the data, though the total NFT trade count registered a slight decline, its total trade volume in USD went up over the last seven days. 

Source: Santiment


How much are 1,10,100 SOLs worth today?


A promising week indeed

The last week went well for the investors as SOL’s price skyrocketed. According to CoinMarketCap, the token’s weekly gains exceeded 28%, and at the time of writing, it was valued at $16.87, with a market capitalization of over $6.2 billion. Moreover, SOL’s Galaxy Score was also quite high, which was bullish.

Additionally, DeFiLlama’s data revealed that SOL’s total value locked has been increasing since the beginning of 2023. Solana’s development activity has also been up, reflecting the increased efforts of the developers to improve the blockchain. SOL also remained popular in the crypto space as its social dominance registered a spike.

Source: Santiment

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Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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