Solana momentum continues to build as the team puts more distance between themselves and the toxic FTX environment.
On Jan. 31, Solana’s co-founders published a blog post outlining their vision for a decentralized future. The pair touted Solana’s high throughput claiming that matches that of the New York Stock Exchange and will push crypto potential even further.
“We believe that Solana making blockspace abundant and cheap will leapfrog crypto into its full potential,” they said.
Furthermore, some of the bear market activity and metrics were highlighted. These include a large increase in the number of Solana validators last year. There is also a second validator client created by a third party being tested. It boasts a whopping 0.6 million transactions per second in a test environment.
Solana Into 2023
The co-founders refuted the FUD from 2022’s crypto contagions, looking forward to the coming year:
“We believe 2023 will be a year where the Solana community continues to take the reins and continues to build the framework for a decentralized and permissionless economy.”
On Feb. 1, the head of Strategic Business Development at Solana Foundation, Ben Sparango, also spoke about the Foundation’s aspirations for 2023. He said he would primarily focus on the DeFi sector and financial use cases such as payments.
Sparango acknowledged that DeFi was hit particularly hard in 2022, being left in a “maimed position.” He will be spending time assisting the DeFi community in devising ways for liquidity to return to the sector.
He said insurance was also important, so investors know their funds are covered. Speaking about the core group that remains focused on Solana DeFi, he said:
“I have no doubts that they will build products that three or four years from now will be some of the top volume applications in all of crypto,”
Price Outlook
SOL prices have surged 12% over the past twelve hours. The coin climbed from $22.64 to hit an intraday high of $25.64 before cooling off slightly but holding above $25.
This past weekend, SOL briefly touched $26.75, the highest price it has seen since the FTX collapse in November.
Over the past month, SOL has made a whopping 125%, but it has a long way to go for a full recovery. Furthermore, the asset is currently down a painful 90% from its peak level of $260 in November 2021.
Main content of the article:
Solana is continuing to build momentum in 2023, with the co-founders outlining their vision for a decentralized future. The team has seen a large increase in the number of validators, and the second validator client boasts 0.6 million transactions per second. Ben Sparango, head of Strategic Business Development at Solana Foundation, is focusing on DeFi and financial use cases such as payments. SOL prices have surged 12% over the past twelve hours, and it has made a 125% gain in the past month, although it is still down 90% from its peak in November 2021.
