Solana led recovery among other coins while the crypto market was crashing and now shows some signs of recovery following the weekend dip so let’s read more in today’s latest altcoin news.
The price of SOL, the native token of Solana, surged over the past 24 hours and hit a daily high of $95.91 on Monday morning. Despite falling to $94,35 at the time of writing, SOL is still among the top gainers of the day increasing 5.4% over the past 24 hours. With a market cap of $30.14 billion, SOL is the eighth biggest cryptos according to CoinGEcko. Solana’s closest competitor is Cardano which has a market cap of $30.95 billion. The recent price action could have been spurred by the moves from the Solana foundation behind the network’s development in order to arrange a series of in-person events across the world that are aimed at supporting the developer ecosystem.
1/ 🚨 Big news: There are more @Solana Hacker Houses on the way! https://t.co/CEN01mpt1w 🚨
The crew is adding several new stops to the World Tour, including…
— Solana Hacker House | Moscow Feb. 22nd-26th (@hackerhouses) February 18, 2022
Dubbed “The Hacker House” the world tour of events will be happening in the upcoming weeks in cities like Berlin, Prague, Moscow, and New York as well as Brazil’s Florianopolis and Nassau which is the capital of the Bahamas. Often dubbed as the Ethereum killer, Solana is an advanced blockchain platform designed to support massively scaling decentralized dapps. Despite the controversies, like the network outages and the monetary disputes in the community, Solana is enjoying growing popularity in the world of NFTs and DEFI with about $7.6 billion in total value in Solana-based projects.
Solana led recovery today among the ten largest cryptocurrencies with Terra also climbing 5.9% over the past 24 hours to $51.85 while Ethereum is u by 3.4% over the day and it is changing hands at $2725. BTC dropped to an intraday low of $38,300 but it is up by 2% in the past today, trading nearly at $39,046. Cardano is up by 2.6% to a level of $0.972 while Binance Coin and Avalanche grew by 1.4% and 1.6%.
As recently reported, Hackers stole $320M from Solana bridge’s wormhole which helps people move digital assets between other blockchains. Wormhole is a protocol that allows users to move tokens and NFTs between Solana and Ethereum and it confirmed that it suffered an exploit of 120,000 wrapped Ethereum worth $320 million which is higher than the initially suspected $250 million
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