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Fortune

Marco Quiroz-Gutierrez

Solana shakes off its death rattle with a 140% jump in value since the start of the year

Solana Crypto blockchain Cryptocurrency FTX Sam Bankman-Fried CoinMarketCap

(Credit: Photo Illustration by Fortune)

After crypto pundits predicted that Solana’s days were numbered due to its close ties with FTX's Sam Bankman-Fried, the cryptocurrency has made a surprising comeback since the start of the new year.

The cryptocurrency was trading at $24.28 on Tuesday, according to CoinMarketCap, up about 140% from the start of 2023 when it hovered around the $10 range. On-chain activity also increased in early January, with crypto market researcher Messari reporting earlier this month that transaction volumes and active accounts had returned to levels pre-dating the collapse of crypto exchange FTX.

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