Cryptocurrency Solana has grown by 137% since the beginning of the year

In the first two weeks of 2023, the cryptocurrency of the Ukrainian Anatoliy Yakovenko’s blockchain of the same name, Solana SOL $184.88 Solana 0.91% Market capitalization $88.64 billion VOL. 24 hours $0.74 billion , rose by almost 137%. As of January 16, the asset is trading at $ 23.54.

The positive dynamics of SOL’s growth is due to the global improvement in the cryptocurrency market — the flagship cryptocurrency has broken through the $ 21,000 support level, and other assets from the top 100 ranking have also grown. Last month, Ethereum CEO Vitalik Buterin spoke positively about Solana, saying that he believes in the sustainable development of SOL. The credit of trust from Ethereum’s parent may have also partially contributed to the fact that SOL was able to overcome difficulties after the FTX crash.

For their part, Messari experts emphasized that the Solana ecosystem is also feeling stable. Network performance, transaction volumes, and account activity on the blockchain have almost reached the levels seen before the FTX bankruptcy.

Over the past two weeks, cryptocurrency investors have seized the initiative in the market, and for the first time in a long time, the total capitalization of the industry has reached $ 1 trillion. Experts believe that the crypto industry has, to some extent, managed to overcome the consequences of the resonant collapse of the Сем Бенкман-Фрід" href="https://noworries.media/biography/sem-benkman-frid/" data-bio-id="3697">Sam Bankman-Fried exchange. However, at this stage, much will depend on the macroeconomic picture, where the actions of the US Federal Reserve will be crucial.

Inflation in the United States has been declining for six months in a row, and therefore many crypto investors expect a gradual easing of the US monetary policy. There are often predictions that in February the regulator will raise the key refinancing rate by only 25 basis points. Analysts believe that this will have a positive impact on the crypto market.