Mithat Can Kartlaşmış 
In 2022, the crypto world was shaken by the collapse of FTX. This event was a major turning point for Solana (SOL), in particular. This platform, once supported by strong investor confidence, faced a sudden decline. Prices fell from $36 to $12. and the Solana Foundation suffered significant financial losses. However, 2024 was the year of rebirth for Solana and an extraordinary performance that pushed the limits of blockchain technology.
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The Beginning of Rebirth of Solana
This rebirth began in 2023. 2023, a turnaround year for SOL, saw the price rise by 600% by the end of the year to $130. SOL token, which began to regain market confidence, became popular again among investors and users.
Independent Growth
The real exciting developments took place in 2024. This year began as a year full of technological innovations for Solana. In particular, the development of Runtime v2 and the integration of the Move programming language strengthened Solana’s position as a blockchain development platform. These developments helped Solana to become a faster, more efficient, and more reliable platform.
Technical analysis also shows that SOL’s price movement is in a stable upward trend. It is stated that the price is moving at important Fibonacci levels, especially the 69.59, 107.74, and 138.57 dollar levels. These analyses increase the interest of investors and analysts in Solana.
Solana’s transaction speed and low fee advantages will be further improved with the development of Firedancer. This new development will improve Solana’s scalability by increasing the network’s processing capacity.
Applications such as Phantom Wallet and Kamino Finance are contributing to the growth of the SOL ecosystem and are attracting attention in 2024 with potential airdrops. These applications help to expand Solana’s user base and further enrich the ecosystem.
The Summit Owner
SOL is solidifying its place as a major player in the blockchain space by overcoming the challenges it faced after the collapse of FTX. 2024 may be just the beginning of this recovery process. Solana’s future points to great potential in the blockchain space, and the innovations to be followed in this area will continue to shape the crypto world.