• Solana (SOL) traded within a range of $20.4 and $26.6 since mid-January.
• It has raised around $335.8 million over 9 funding rounds, with Alameda Research, Andreessen Horowitz and Polychain being its leading investors.
• In early August 2022, thousands of Solana accounts were drained due to a bug in software used by several wallets popular among Solana users.
Overview Of Solana (SOL)
Solana (SOL) traded within a range between $20.4 and $26.6, with the midpoint at $23.5 since mid-January. Over the last seven days, the price of SOL fell from $24.98 to $20.27 at press time and its market cap fell from $9.3 billion to $7,607,433,352 during the same period. The altcoin was trading at $2036 at the time of writing.
Popularity
Solana has gained increasing popularity as American comedian and television host Steve Harvey changed his Twitter profile to that of a Solana Monkey Business NFT in September last year while American singer Jeson Derulo tweeted about his excitement for the token last year saying that he betted on Solana and enjoyed the ride.
Investment
The token has raised around $335 8 million over 9 funding rounds with Alameda Research Andreessen Horowitz and Polychain being its leading investors The current year so far has however proven to be highly volatile for all cryptocurrencies and Solana didn’t escape this brunt either So far its maximum price this year has been 136 38 dated 3 April
Hacking Incident
In early August 2022 thousands of Solana accounts were drained due to a bug in software used by several wallets popular among Solana users This incident led to many users losing their funds worth around 8 million
Expert Opinion
American cryptocurrency billionaire Sam Bankman-Fried CEO of FTX exchange said in an interview with Fortune that SOL is the most „underrated token right now… at least as of a month ago“ He added that though the system exposed itself to many vulnerabilities it has continued to push boundaries Cryptocurrency VC fund Cyber Capital’s Justin Bons is however not as enthusiastic as SBF He tweeted that Sol