Since this Thursday Solana has shown remarkable gains of 14% this week as other altcoins have remained flat. Eth did not rise much nor did BNB and XRP yet Solana saw steady increase on a day-to-day basis. Currently at the time of this writing Solana is sitting nicely at $135.94 an 9.35% increase from Monday. This has indeed been a very strong week for the Solana blockchain as the integration on OpenSea and new NFT projects being dropped have helped in boosting the confidence in the token.
Other coins such as AVAX and ZIL also saw gains of 7% and 20% respectively as crypto seems to be back in an upswing. The gains could be attributed to a new found sense of “risk appetite” for investors as they are looking for new avenues of growth and profit that can be away from the prying eyes of government. Currently Solana has reached it’s $130 resistance point and gone beyond. While this may not totally signal the return of Solana at $200 there are some users on Crypto Twitter that are touting Solana to reach $1000 by the end of the year. Though that may be a possibility ( and really anything is possible) the facts remain that there are other blockchains chomping at the hells of Solana, mainly Bitgert which is faster than Solana and has already seen 79% growth this past few months.
As stated, the OpenSea integration has been helpful in the push of the token from the $100 stagnation that was holding Solana back. According to CryptoSlam, transaction volume for Solana NFTs has gone over $1.5 Billion.
This new milestone comes after a few months of already surpassiong $1 Billion. This new milestone places Solana right under Axie Infinity’s Ronin network , which was also recently the victim of a $600 Million hack. Even with the new milestone Solana is still far behind Ronin and even further from reaching Ethereum, integration into OpenSea is expecting to rectify this issue however, only time will tell.
Solana has continued to leave everyone on the edge of their seats. With the massive growth in the summer of ’21 to the massive drop at the end of ’21, back to the hard return to $130 three month’s later , the token has truly kept things interesting , though it has never had a true fall. With the OpenSea integration and more projects on the horizon things should definitely continue to pick up for Solana and who knows, we may actually reach that $1000 crypto twitter is whispering about.