"Perghh the performance of SOL is really amazing, ready to beat BTC and ETH."
Solana (SOL) which broke through the $46 level seems to have fallen back below $39, but the cryptocurrency still recorded an incredible performance as its price managed to climb almost 80% in a month.
There is no denying that SOL has attracted the attention of users through its high-speed performance and low cost, however the digital asset unfortunately lost most of its value last year due to the collapse of FTX.
Despite this, SOL is seeing an amazing recovery right now as its price is not only trading at a level not seen in almost 15 months but also outperforming Bitcoin (BTC) and Ethereum (ETH) after seeing 343% year-over-year growth.
The SOL price increase is driven by the launch of Firedancer, a Web3 Jump Crypto development firm on the testnet that aims to increase the speed, reliability and diversity of validators then the mainnet launch may happen in the first half of 2024.
Unlike SOL's existing single validator client, Firedancer is designed to expand the client ecosystem, strengthen blockchain resilience and potentially be a game-changer for the digital asset network.
Following increased support from developers and the community, debates about SOL and ETH have erupted on various social media platforms.
As of this writing, SOL price has plunged by 8.11% to $38.74 in the last 24 hours with a market capitalization of $16 billion but still recorded a 19.84% climb over the last week.
