Solana (SOL) huge 50% spike might be due to this reason SOL $SOL Crypto
In a chart posted, Santiment wrote,"Solana has surpassed the $22 mark and has nearly tripled since bottoming out at $8 two weeks ago, Shorts propelled the bounce."
According to the on-chain analytics firm, Solana has seen a shorting bias by traders on Binance consistently over the past month. It noted that even larger ratios of SOL shorts began opening right as the price bottomed out on Dec. 30. SOL's price has risen by 170% since this bottom was reached.
BONK has just announced the formation of BonkDAO. The first BonkDAO council was assembled from among"respected Solana community members across DeFi, Art, and NFT initiatives." According to a recent report released by Citi Research, activity on the Solana blockchain is still very high. It highlighted that several key metrics, including active addresses and the daily non-fungible token volume, had recovered to levels seen before the FTX crash, possibly indicating relief for its users.
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