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Solana Crypto Whirlwind: Electrifying altcoin's wild ride!

Mon 29 Jan 2024 ▪ 4 min of reading ▪ by Mikaia A.
Getting informed Altcoins

In the grand theater of cryptos in 2023, Bitcoin, Ethereum, and Solana are performing acrobatics. However, in the kingdom of SOL, January brings a surge of emotions. Amidst the twists and turns and hiccups of volatility, Solana’s cryptocurrency seems to be playing its part. Is it just a merry-go-round, or a sign of regained stability? Welcome to the swirling arena of cryptos, where Solana’s SOL unveils its mysteries in January.

Logo de Solana sur une montagne russe

The SOL is making noise again

The crypto market is like a rollercoaster in 2023! Bitcoin, Ethereum, and Solana are soaring. But in the land of SOL, it’s been swaying since January. Volatility shocks hit, Solana is rebounding after a slip. A merry-go-round or a sign of stability?

The new performances of Solana

« SOL is up 9% over the last 7 days, currently trading at $97.44.

Why ?

– Launch of the memecoin $WEN and exclusive airdrop on the Jupiter exchange.

– Record increase in new Solana wallet addresses.

– Anticipation of the airdrop of the $JUP token by the community. »

Solana’s SOL, the altcoin that electrified the year 2023, continues its wild ride into 2024. Addresses are multiplying like hotcakes: about 459,000 new addresses, just for last January 27th. The network records its largest transactions since October 2022. The data from The Block reveals that Solana has set a new record with its number of daily addresses, even surpassing the glorious days of May 2022.

Number of new addresses on the Solana blockchain – Source: The Block

Yet behind this frenzy, SOL doesn’t escape some jarring notes. The meme token fever propels WEN into more than a million wallets, but as of writing, nearly half of the WEN token airdrop remains unclaimed, at the mercy of time ticking inexorably. A claim window closes tomorrow, leaving users of Jupiter, Solana’s decentralized crypto exchange, in suspense.

But that’s not all. The WEN airdrop is not just about free distribution. It also acts as a warm-up for Jupiter, Solana’s largest decentralized exchange aggregator. Soon, it will be the governance token JUP’s turn to take flight. This real-life exercise, a dance between meme cryptos and altcoins, marks the rhythm in Solana’s whimsical universe, where excitement is never without surprise.

Solana and the memecoins madness

Solana, the star of the moment, sees its performance explode with transaction volumes highest in over a year, notes The Block again. The economy of memecoins, those little crypto gems derived from Solana, contributes to this frenzy. Economic throughput for tokens using the SPL standard has skyrocketed by 700% in 30 days.

The memecoins market, with rising stars like BONK, is driving Solana’s blockchain statistics up. Results are immediate, with altcoin traders accumulating multi-million dollar gains.

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Mikaia A. avatar
Mikaia A.

La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.