Solana eyes top 10 comeback as price jumps 21% SOL $SOL SolanaCommunity Crypto2023 Cryptocurrency
FTX co-founder Sam Bankman-Fried was a strong backer of Solana. The disgraced founder's fall took Solana with it, with its subsequent fallout from the top 10 cryptocurrencies in terms of market valuation as the SOL price tumbled.
SOL kicked off a recovery after hitting a low of $7.96 on Dec. 29. The price rebound caused Solana to cross an important price barrier at $12.85, or the daily MA 50. The price of SOL furthered its rise to a high of $14.87 on Jan. 8, which later extended to a high of $16.89 today. At the time of writing, SOL was trading at $16.53.
The rise in the past week coincided with the launch of the new Shiba Inu-themed BONK token. Aside from the impressive price action, Solana is also posting encouraging staking stats.
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