The devastating collapse of FTX last year swept up one of the crypto industry’s hottest blockchains: Solana. Hailed for its high speeds and cheap transaction fees, the blockchain previously <-bsp-bb-link state=”{“bbDocId”:”QS9SNRT0AFB5″,”_id”:”0000018c-8cf6-db9e-abee-8dfee27c0000″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>championed-bsp-bb-link> by Sam Bankman-Fried saw the price of its <-bsp-bb-link state=”{“bbHref”:”bbg://securities/XSO%20DAR%20Curncy/GP%20D”,”_id”:”0000018c-8cf6-db9e-abee-8dfee27c0001″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>SOL token-bsp-bb-link> plummet in the wake of his FTX crypto exchange’s implosion.
But now, many digital asset investors have pegged <-bsp-bb-link state=”{“bbHref”:”bbg://screens/CRYP”,”_id”:”0000018c-8cf6-db9e-abee-8dfee27d0000″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>Solana-bsp-bb-link> as crypto’s comeback kid after tumbling 94% in 2022. Like Bitcoin, SOL recently sky-rocketed in price, rising almost 800% since last December. Traders are also snapping up a Solana memecoin called <-bsp-bb-link state=”{“bbDocId”:”S5Q3QCT0AFB4″,”_id”:”0000018c-8cf6-db9e-abee-8dfee27d0001″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>BONK-bsp-bb-link> and gravitating once again toward nonfungible tokens, despite their …
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