Solana (SOL) recovered slightly when Vitalik Buterin himself expressed optimism about the future

Solana (SOL) recovered slightly when Vitalik Buterin himself expressed optimism about the future

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2023-01-03 17:24:41

SOL has made a slight comeback as its rival founder Vitalik Buterin is optimistic about the future of the blockchain.

Since November, SOL (Solana) has had a dizzying downward momentum, even reaching the bottom in the last two years. The reason for that decline comes from a lot of negative information related to the situation of components in the Solana ecosystem since the collapse of the FTX exchange and the Alameda fund – the two most important backers of SOL. .

A series of prominent projects such as Serum (SRM) have also announced their shutdown because of their association with FTX. Popular NFY Collection on Solana Blockchain – DeGods also decided to move to Ethereum/Polygon. Since the beginning of November until now, the locked value (TVL) on Solana has decreased from 1 billion USD to about 200 million USD, divided more than 5 times. At the end of 2021, Solana’s TVL peaked at more than 10 billion USD.

Fluctuation of total value locked TVL on Solana

Even this morning (December 30), SOL continued to be sold off to 8 USD, setting a new bottom in 2022. SOL market capitalization decreased to 2.99 billion USD, dropped to 19th position in the ranking of foreign investors. largest cryptocurrency.

With such a situation, many people have lost their optimism about the recovery prospects of Solana, the blockchain that was once expected to become the usurper of Ethereum. However, the creator of Ethereum himself expressed optimism about the future for the rival ecosystem:

Vitalik Buterin’s encouraging tweet

“Some people have told me that Solana has a very smart developer community, and now that the opportunists have been eliminated, the blockchain has a bright future ahead of it.

While I can’t confirm anything as an outsider, I hope this community has a chance to bounce back.”

Immediately after Vitalik Buterin’s statement was shared, SOL price recovered slightly from the $8 low and has now returned to the $10 area.

SOL price movement right after Vitalik Buterin’s tweet

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