Over the past month, Solana (SOL) has been rising steadily following a year-long decline in price, ecosystem, and, most importantly, its reputation in the cryptocurrency world.
After losing more than 70% of its value in the last month, the blockchain that was dubbed the “ETH Killer” has gradually returned to prominence and is currently among the top performers.
According to Coinmarketcap data, it has already increased to about $43, up roughly 80% from October 1.
In addition to the staggering price increases, Solana’s TVL, or total value locked, has grown by around 50% during the course of the month. According to DeFiLlama data, its TVL was approximately $1.05 billion on October 1 and is currently $1.6 billion.
With a $18 billion market capitalization, SOL is the seventh-largest cryptocurrency and Solana is now the fifth-largest blockchain network.
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