Solana, the high-speed blockchain platform, is back in the green after a rollercoaster week. Its native token, SOL, triumphantly hit the $105 mark today, defying naysayers and sparking renewed optimism. But is this just a fleeting bounce, or the start of a sustained climb towards $120 before Valentine’s Day?
Defi Frenzy Heats Up, Injecting Millions Into Solana
The key driver behind this recent surge seems to be the red-hot DeFi scene on Solana. Total Value Locked (TVL), a metric indicating the combined value of crypto assets deposited in DeFi protocols, has shot up by an impressive $500 million in just 16 days, pushing the network’s TVL at $1.95 billion.
This influx of capital, primarily directed towards projects like Jito, Kamino, and Blazestake, has fueled demand for SOL, pushing its price upwards.
Not Without Hiccups: Outage Raises Scalability Concerns
However, Solana’s journey hasn’t been entirely smooth sailing. A five-hour network outage on February 6th cast a shadow of
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