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the significant growth of Cardano and Solana; What is the reason for this increase?

Solana (SOL) and Cardano (ADA) were up 21% late on Sunday, January 8th. The two stepped into territory not seen since November.

According to Valx and quoted by Decrypt, Cardano, which is the eighth largest digital currency in the market, saw its price increase to $0.33; A price that had not been reached since November 19. Meanwhile, Solana, which has been on an upward trend in recent days, reached $16.04 on Sunday. Solana was last traded at this price on November 9. In the three days leading up to that date, Solana experienced a 50% drop.

Solana’s analysis suggests that this cryptocurrency had the best “first week of the year [میلادی]among 20 major digital currencies. With today’s growth, the rate of increase in the value of Solana in the last seven days of the border 60 percent Forgiveness. The Solana network, which was once called the “Ethereum killer”, suffered a terrible fall after the fall of the FTX exchange and due to its close relations with Sam Bankman Fried and the Alameda Research company, in such a way that this currency, which only a year ago, peaked It had seen 259 dollars, it was faced with a 94% price reduction. This relative price recovery is very significant for this network.

The Solana network is a layer 1 blockchain based on a Proof of Stake (PoS) algorithm that allows developers to create and run decentralized applications.

One of the reasons for Solana’s price increase was the emergence of a new meme coin inspired by Shiba Ino in this network BONK It is called This new token had a better price performance than all major digital currencies in the market. This meme coin price increase 3000 percent saw to himself

Analyzing Cardano and finding the reasons for its price increase is a bit more difficult; The last major milestone of the Cardano blockchain is execution Hardfork Wasil It happened a few months ago. However, Charles Hoskinson, the founder of the Cardano blockchain, is not sitting idle.

Image of Hoskinson Health and Wellness Clinic in Wyoming

The parent company of the Cardano blockchain – IOHK – is preparing to launch a new wallet for the network called Lace Is. Also on Thursday, January 5, Hoskinson announced that his clinic in Wyoming will accept ADA cryptocurrency as a payment method.

Cardano and Solana’s remarkable growth post; What is the reason for this increase? The first time in the blog Valx. appeared.


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