Solana cryptocurrency returns with a spike in prices

16.01.2023

It’s a real comeback – the return with fanfare of a cryptocurrency that many experts and industry sources thought was almost dead after the bankruptcy of the Sam Bankman-Friede empire on Nov. 11.

Solana (SOL), they said, could not survive the earthquake caused by the fall of cryptocurrency exchange FTX and its sister company, Alameda Research, a hedge fund that also acts as a trading platform for institutional investors.

FTX and Alameda were the main companies representing the Bankman-Fried crypto empire, known by its initials SBF, in the crypto space.

But just as quickly as they collapsed, Sol prices are also recovering strongly. In the past seven days, they have risen 79%, according to CoinGecko. Sol is knocking on the door of the top 10 cryptocurrencies by market value, according to the latest data. The token was part of that club before its collapse.

Currently, its price is $23.39, up 134% since the beginning of the year.