Solana (SOL) seems ready to come back

Solana NFT Blockchain

Solana posted a significant jump in new application growth in January.

The market is unfriendly to Solana (SOL) at the moment, as the digital currency is down 3.66% in the last 24 hours at $22.78. This price crash underscores the trend of a highly volatile market that still has a ways to go from the overdrawn crypto winter.

Based on its current performance, Solana is down 8.40% in the seven-day period. Despite Solana’s bearish outlook at the moment, two key ecosystem trends are remarkably enough to help it rally in the short term.

In what appears to be a correction of a misconception by cryptocurrency data platform TokenInsight, Solana community member @FlipsideSolana said that the total number of developer activity on the Layer-1 network has grown over the past couple of years. of weeks.

He noted that the total number of new programs skyrocketed in January, while many ecosystem activities have returned to pre-FTX bankruptcy levels. In addition to these ecosystem updates and the addition of dApps, Solana is said to see a large number of new signups for its hackathons that have the potential to fuel a new era of smart contract growth in the protocol.