Solana SOL/USD is a proof-of-stake (PoS) blockchain network that has a large ecosystem of decentralized applications (dApps) and is continuously evolving.
SOL is the native cryptocurrency token used on the Solana blockchain.
Solana’s ecosystem growth as a catalyst for growthSolana posted on Twitter on December 14 a link to a GitHub page where users could find a curated list of Solana NFT Protocols and other resources, which is an indication of how far this blockchain has grown.
On December 15, the NBA Legend Michael Jordan and Jeffrey M. Jordan announced that they are launching HEIR, which is a platform for empowering athletes built on the Solana blockchain network.
Additionally, we saw the arrival of the NFT sales platform known as Fractal, which has contributed to the growth of the value of the SOL token.
This prominent marketplace was launched by the Twitch social network co-founder Justin Kan.
On Twitter, Kan specifically stated that he never thought he would be a founder again but enjoyed the connection with games and game creators.
On December 9, Solana Chain was hit by a DDoS attack. That said, the CEO of Veribit, Roy Murphy, detected that SOL transactions were failing, indicating that over 2000 transactions are lost every second.
That said, this has not stopped the value of the SOL token from increasing, and investors still prefer to invest in Solana even despite these DDoS attacks.
We also discussed on December 15 how Solana’s mainnet came back online after a downtime of roughly 20 hours.
Solana’s SolRazr launchpad is also going live and will ensure a high-performance network to accelerate DeFi developments.
Should you invest in Solana (SOL)?On December 16, Solana (SOL) had a value of $182.85.
To see what kind of value point this is for the token, we will go over its all-time high-value point as well as its performance throughout the previous month.
The all-time high value of the token was achieved on November 6, when SOL reached $259.96. Here we can see that, on November 6, when compared to the value of December 16, the token was $77.11 higher in value or by 42%.
Its lowest point of value in November was on November 28, when the Solana (SOL) token fell to a value of $185.64.
Here, we can see that from November 6 to November 28, the SOL token decreased in value by $74.32 or by 28%.
With this in mind, at the value point of $182.85, the SOL token is a worthwhile investment as it has the potential to increase its value to $200 by the end of December.
The post Solana price movement: Despite all of its ecosystem developments, can the DDoS attacks slow down the SOL token’s growth? appeared first on Invezz.
