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Solana (SOL) Prints Revival in Hopes of Breaking Major Milestone, Here Are Its Triggers

Tue, 04/04/2023 - 13:59
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Godfrey Benjamin
Solana is looking to retest its 3-month high with latest growth push
Solana (SOL) Prints Revival in Hopes of Breaking Major Milestone, Here Are Its Triggers
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Solana (SOL) is seeing a mild growth push today as it is changing hands at a spot price of $20.89, up by 2.31% in the past 24 hours. As one of the elite digital currencies around, Solana's growth path is well-watched, and the current moves by the asset are evidence of a unit uptrend in the days and weeks to come.

While the impact of the grizzlython is yet to be felt in the Solana ecosystem, the cryptocurrency ended the first quarter with 54.28% growth in what counts as one of the biggest growth rates following that of Bitcoin (BTC). As it stands, Solana is on track to breach its biggest price level in the past three months per its current outlook.

Solana is a multifaceted blockchain network whose Decentralized Finance (DeFi) and non-fungible token (NFT) ecosystem are thriving remarkably. Tagged as a highly functional blockchain protocol, Solana's ambition to return to its multi-month highs is being driven by its ongoing innovations in the gaming ecosystem.

With start-ups like Monkey League launching innovative games, Solana is being primed for massive adoption, all of which will have an underlying impact on the demand for SOL tokens.

Solana (SOL) Surpasses Ethereum (ETH) in Monthly Active Addresses: Details

Sustaining Solana price journey

Solana once traded at an all-time high (ATH) of $260 about a year ago, and despite its current bullish outlook, the digital currency is still down by more than 90% from that price point.

Besides the slump in the price of the cryptocurrency by virtue of events in the broader industry, it has also experienced a lot of hiccups through outages within the past year that has left many uncertain about its reliability in the face of competition.

At this time, sustaining its current growth trend remains a priority for the protocol, and this can be achieved by the steady growth of its ecosystem as well as the launch of new DApps with relatable use cases.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.