Insider Insights: When to trade Solana after its 500% run

Despite an impressive 80% monthly rally in December that propelled its market cap to the fourth position among all cryptocurrencies by size, the price of the Solana (SOL) token experienced a post-Christmas dip, falling to $107.

Timeline of Solana

Solana (SOL) has experienced a notable downturn, dropping approximately 6% within 24 hours, reaching $98. This decline, along with its retreat of over 20% from its recent high of $125 earlier in the week, comes after heightened enthusiasm within the ecosystem, particularly surrounding Solana-associated meme coins.

A trader who started with only 1.5 SOL (worth $92) managed to make $2 million in 22 days, marking a gain of 21,715x. What Happened: According to Lookonchain data, the trader noticed the token Silly Dragon (CRYPTO: SILLY) only five minutes after it opened to trade.

A cryptocurrency trader has managed to turn just 1.5 SOL, worth around $92 at the time they started trading, into more than $2 million in just 22 days for a gain of a whipping 21,715x after they traded a little-known Solana-based altcoin shortly after it started trading.

Solana (SOL) co-founder, Anatoly Yakovenko blew up Crypto X with a recent admission when he noted that the protocol is now already an “Ethereum L2 with the Wormhole Eigenlayer.” Lightning the Solana versus Ethereum Rivalry Though the shared X post from Anatoly Yakovenko is a technology-based communication, it has a major but subtle aim to

In a remarkable turn of events, Solana-based meme coin Silly Dragon (SILLY) has experienced an extraordinary surge, reaching an all-time high today with a market capitalization soaring to $140 million. The dynamic cryptocurrency has captured the attention of the crypto community, with the top 10 addresses, excluding centralized exchange (CEX) addresses, boasting an average floating profit of 30x.

Solana, a competitor to Ethereum, is making significant strides as the SOL price climbs by an extra 7.26%, reaching $120. This extends Solana's gains for the week to an impressive 60% and for December to a solid 100%.

Ethereum Layer-1 competitor Solana is making strong moves with the SOL price gaining an additional 7.26% and moving all the way to $120. With this, Solana has extended its weekly gains by a staggering 60% and December gains by a solid 100%.

The cryptocurrency Solana (CRYPTO: SOL) established fresh records for monthly new and active addresses. What Happened: As reported by The Block, the price upswing of Solana has been paralleled by a substantial increase in network activity.

As 2023 markets come to a close, what are you investing in, Solana or AVAX? Among the intriguing events currently in the crypto market is the Avalanche of on-chain data that highlights various shifts in the staking dynamics in the currently consolidating phase.

Solana (SOL) has been making waves, hitting over $110 this weekend for the first time since April 2022 and outperforming big shots like Bitcoin and Ethereum in trading. But what caught our attention was a tweet from Vitalik Buterin, the co-founder of Ethereum.