Solana Surpasses Bitcoin in Market Valuation, Experiencing Significant Growth

Solana Surpasses Bitcoin in Market Valuation, Experiencing Significant Growth

Solana’s Remarkable Market Performance

Solana has demonstrated exceptional growth, outshining Bitcoin in recent days. With the price of SOL climbing above $102, the cryptocurrency has bolstered investor optimism. This leap forward is backed by on-chain data from Santiment, highlighting SOL’s robust position among alternative cryptocurrencies.

SOL’s trading pair with Bitcoin (SOL/BTC) has seen a sharp 4.5% climb in 36 hours, a movement that has been welcomed by SOL’s investment community. This rally came on the heels of a network outage, which initially sparked worries among traders but eventually set the stage for a price rebound.

Initially, the outage, which lasted five hours and was caused by issues with the Berkeley Packet Filter loader, created a wave of fear, uncertainty, and doubt. However, the developers responded with a network upgrade to v1.17.20. After validators repaired the issue, the network resumed, continuing to process transactions.

Future Outlook for Solana

Solana’s blockchain recently hit a peak with the highest ever number of active addresses since its 2020 launch, boasting 875,940 users. Although a slight dip in network activity was observed at the beginning of February, the layer-1 network’s robust usage figures signal a strong foundation. Should SOL break through the key resistance at $110, analysts predict a possible surge, with the potential to reach up to $170—a 50% increase from its current levels.

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