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The value of a crypto token can be estimated based on the value it adds to the overall ecosystem. This is where Solana came up with a unique concept in the crypto space.
In 2017, Greg Fitzgerald and Anatoly Yakovenko founded Solana Labs. The Solana ecosystem is seen as a low-cost, efficient, fast, secure, and censorship-resistant blockchain that provides the open infrastructure necessary for widespread adoption. It is one of the first platforms in history to combine both Proof of Stake and Proof of Consensus and uses both technologies together.
In addition, there are no transaction costs. As a result, Verifier’s main goal is to decentralize the Solana network by providing computing power to verify transactions or redundant ledger data.
Many projects are being worked on by the Solana Foundation, including NFTs, DeFi, Web3 and more. It has even created its own online store, Solana Pay, which will shape future payments.
In this article, we discuss the price prediction for Solana and its relationship to the FTX crash. At the end of the article, we have also provided information about the best crypto projects and recent updates related to them.
First up – FTX and Solana
Sam Bankman-Fried and Gary Wang created FTX, a centralized cryptocurrency exchange, in 2019. The volatile cryptocurrency market was rocked by the demise of FTX; It lost billions of dollars in value and the crypto market’s valuation fell below $1 trillion.
Sam Baker with Binance’s CEO
The sudden drop and collapse of FTX was likely the result of a very long list of issues that are likely to affect cryptocurrencies for a very long time in the future and likely contribute to market declines outside of cryptocurrencies.
The connection between Solana and FTX led to the SOL crash.
A wide range of international investments, including Alameda Research, have invested $300 million in Solana’s native token sale by 2021. Andreessen Horowitz was the main financier in this round.
The loss of SBF and FTX’s interests in Solana, as well as the ecosystem, is worrying investors. Even worse, Solana’s blockchain is now facing performance issues. So this is one of the main reasons for Solana’s bearish tilt.
This has allowed us to understand the importance of developing an advanced piece of technology that can provide ordinary people with the right information and advice to safeguard their investments. With Dash 2 Trade’s revolutionary automated trading system emphasizing capital preservation, this gap can be easily filled, which we will get into later.
Solana begins recovery with immediate effect
Due to the FTX event this month, the price of Solana made a sharp drop below $30. There was significant movement below the $25 and $20 support levels.
There was even a drop in the SOL price below $15. Finally, it dropped to $10.92 before finding support near $11. Like Bitcoin and Ethereum, there was a slight upside correction recently. The price managed to climb above the $11.50 and $11.85 levels.
However, in the past 2 days, the Solana price broke above $14 again, forming a support around the $13.95 level. It is safe to say that if the uptrend continues, the crypto could rise to $15 before the month of December. And as the holidays approach, the Christmas season is likely to bloom more.
Solana Price Forecast for the next few years
Development on the project began in 2017 and although it was released in March 2020, it did not gain attention and acclaim until 2021. From number 42 in February 2021 to number 7 in September of the same year, the currency increased significantly in market capitalization.
Let’s take a look at our accurate, in-depth projection for the price of Solana.
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Other cryptos you should buy for the next price hike
After giving a brief overview on Solana Price Prediction, we will now update on other projects that may be useful to the readers.
1. Robotera successfully crosses $180,000 milestone
Robotera is undoubtedly one of the most popular crypto presale out there right now. In the early presale phase, this new Metaverse cryptocurrency has raised $180,000. As things stand, this is just the beginning of prosperity for this wonderful crypto project.
2. Calvaria raised nearly $2 million
Investors can currently register for presale at RIAs. It was one of the most profitable pre-sales ever, earning nearly $1.8 million.
There are a total of 8 levels for presale of RIAs. With each achievement of a goal, the value of the asset is expected to increase. RIA started trading at $0.010 during the presale and is currently trading at $0.025 in the fourth leg. Early adopters have already achieved over 100% returns.
3. Dash 2 Business reaches $6.8 million
Dash 2 pre-sale started a month ago and has already raised $6.5 million. The speed with which they reached the $6.5 million threshold is impressive, especially considering that they did so under one of the most difficult market conditions for cryptocurrencies.
4. IMPT reaches $13.1 million level
With its popularity growing every day, the first public sale (presale) of IMPT coins has already proved successful, raising more than $13 million. So it is without a doubt true that this currency, which is still offered at a huge discount, is the ideal investment option right now.
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