Solana 3x's Pre-FTX Crash Volume, Bulls Rejoice

Blockhead -

Solana has resurfaced stronger from FTX's collapse, settling fears that the blockchain would face the same fate as the exchange.

Critics had been concerned that SBF's relationship with Solana would result in its demise. However, recent activity on the blockchain has silenced these voices.

Read more: “Solana Isn’t FTX!”: SOL Gets Rekt By SBF But Is It Truly Dead?

Development activity on Solana has reportedly increased, showing that deveopers are remaining loyal to the blockchain, which has a developer community second only to Ethereum's.

Daily active wallets are three times higher than before FTX collapsed, as SOL continues to recover from its downward spiral following revelations about the exchange. Furthermore, Solana's funding rate on Binance has also incerased.

Over the past 24 hours, SOL's price has surged over 21% to $16.52 and is up more than 60% over the past seven days. The "Ethereum killer" has been riding high since the Shiba Inu rival BONK coin was launched by Solana developers.

BONK was aidropped to Solana developers and NFT collectors last week, and its price soared close to 1200% in one week. The memecoin has been hyped for introducing "burn" mechanisms for NFT-based events and as a use of payment.

Solana bulls have predictably taken to the news positively. "I’m only happy when things on solana are happening too fast for me to keep track. then I know entropy and organic evolution are happening at the right pace, unbounded, like the early internet. feels like that right now," tweeted one Solana optimist.

"Bullish on Solana, Bullish on NFTs. Bullish on our multichain future, Here we come Poly n' ETH -good night," wrote another.

Read more: Arthur Hayes Talks Mao Zedong, FTX; SBF Replies

Indeed, the future looks bright for Solana. With BONK stealing headlines, developers amping up building and demonstrating loyalty, and Solana's mobile device around the corner, SBF pain appears to be over.