Solana price skyrockets 20% in 24 hours despite heavy short interest 

Solana (SOL) had taken a significant hit in value as the cryptocurrency market was devastated by the liquidity crisis at FTX; however, on November 23, the token underwent a massive rally.

Timeline of Solana

On Tuesday (22 November 2022), Synapse COO Max Bronstein explained why be believes that this might be a great time to invest in $SOL, the native token of the Solana blockchain. Here is how Coinbase described Solana in a blog post published on 29 June 2022: “Solana is a decentralized computing platform that uses SOL to pay for transactions.

Ethereum and Solana are leading the top NFT collections across protocols, showing resilience in the winter slowdown that the rest of the market is witnessing. The post Solana NFT Prices are Defying Crypto Winter.

Over the reporting period, the cryptocurrency market cap saw net outflows of $31.56 billion to $796.6 billion, down 3.8% from $828.16. The post CryptoSlate Daily wMarket Update – Nov. 18-20: TRON ousts Solana from top 10 rankings appeared first on CryptoSlate.

Dallas Mavericks owner and investor Mark Cuban on Sunday unfollowed several cryptocurrency-related accounts on Twitter, triggering fears that he might be losing faith in the sector. What Happened: According to BigTechAlert, an account that tracks Twitter accounts of billionaires, Cuban unfollowed accounts of Uniswap, Dapperlabs, Defi Pulse, Solana (CRYPTO: SOL) and MetaMask, among several others.

The co-founder of Solana Labs, Anatoly Yakovenko, made an announcement that all validators need to update to the latest version of the node, 1.13.5. Based on his outlook, the update can fix all of the Solana (SOL/USD) network outages which were caused by the overloading of UDP-based protocols.

According to the Solana price analysis, SOL/USD is currently rising after seeing a steady fall since November 16, 2022. Today, bulls are attempting to increase the coin's value, raising it to $13.12.

Coin Bureau host Guy is sending out a warning that a top Ethereum (ETH) competitor faces more downside risks in the FTX fallout. The Coin Bureau host tells his 2.17 million YouTube subscribers that the collapse of the FTX crypto exchange has made the road ahead for Solana (SOL) difficult.

Solana gets impacted by the FTX debacle; Sollet-wrapped tokens also get affected Solana's Project Serum gets forked; however, the community continues to show an interest in Solana's NFTs One of the major cryptocurrencies that was impacted by the FTX debacle was Solana [SOL].

Recently, a former Goldman Sachs executive explained why this could be a great time to buy $SOL, the native token of the Solana blockchain, despite all the doom and gloom surrounding the Solana ecosystem in the wake of the collapse of FTX.

Over the past 2 years, the Solana network has rapidly risen to be one of the largest blockchains by both market cap and usage. The growth was largely driven by Sam Bankman-Fried who was both a massive investor and voice of the entire ecosystem.