![]() Soon enough, the transactions were picking up pace once more. ![]() Is your portfolio green? Check the Solana Profit Calculator The transaction count per day had been on a downtrend in the second half of December, but this began to turn around in early January. A part of the total 99 trillion supply was airdropped into the wallets of Solana users in December. This explosive rally has been credited partially to Bonk, a meme coin introduced within the Solana ecosystem modeled after Shiba Inu. SOL gained by 180% in January and February 2023, exceeding all expectationsįrom 1 January to 20 February, Solana gained by 179.88% on the price charts and rallied from $9.69 to $27.12. And yet, some network issues cropped up, just as they had in 2022. This took SOL’s total losses from 5 November 2022 to 31 December 2022 to 79.4%.ĬhatGPT certainly sounds optimistic, and early 2023 went extraordinarily well for investors. With rumors of FTX’s insolvency circulating from November 5, SOL had already lost 50% the previous week, when it had been trading near the $38 mark. It was valued at close to $1.1 billion at that time.Īs expected, the price of Solana nosedived in November and declined by 45% from November 11 to 31 December, falling from $18.08 to $8. This amounted to 58.08 million SOL, or 11% of the circulating supply at the time FTX filed for bankruptcy. Not only has the reputation of Solana taken a hit, but the foundation also sold a significant amount of SOL to FTX Trading and Alameda Research. He faces more than 100 years in jail if convicted on all counts. Bankman-Fried with defrauding the equity investors of FTX, further alleging that he commingled FTX customer funds with Alameda’s to make undisclosed venture investments. Competition is also good for the industry and serves the customers.Ī lot has changed since then, and the SEC has charged Mr. Even though Binance reigned supreme in terms of volume and token pairs, FTX was giving it a run for its money. He was seen as a credible and smart investor and entrepreneur who was CEO of one of the largest crypto exchanges, FTX. Sam Bankman-Fried was one of the most vocal proponents of the Solana network. Let’s start with the biggest dent in investor confidence – FTX, where the freefall began We are yet to inform it of the challenges that Solana and SOL investors have faced in recent months. So, what does ChatGPT make of Solana? Does it see a route to recovery after its recent setbacks? Based on transaction fees and transaction speeds, ChatGPT seems to think Solana will be an Ethereum killer. The jailbreak version of ChatGPT would likely be even more inaccurate as it is specifically instructed to not say no to anything the user requests.Īnd yet, it is possible to obtain some guesses from the chatbot on what the future might hold if it is given an idea of what the present and recent past have been like. Yet, it must be said that the bot is engineered to mimic a human, and is not necessarily guaranteed to be factually accurate. It is a powerful tool for learning and has been trained on a vast array of topics. Can we coax ChatGPT into a Solana price prediction if we give it enough information?ĬhatGPT has been a remarkable chatbot and the updates of the past month have made ChatGPT 4.0 quite impressive. However, we can ask another bot for its take on the price, the network health, and the trajectory of Solana after giving it some relevant data points. The most bullish scenario of 2023, according to AMBCrypto’s prediction bot, could see SOL valued at $75.5. However, it could not breach the $26-$28 resistance zone, which has acted as support since June-November 2022. Solana benefited massively from this shift and recorded gains of 175% in 21 days. Just as investors began anticipating further losses across the crypto-market in January, Bitcoin began to climb past $17k and shifted the shorter-term sentiment to bullish. It was already in the grips of a downtrend that stretched back to November 2021, back when SOL was trading at $200. Heading into 2023, SOL was hovering around the $10 support zone. This was reflected well on the price charts. This speaks volumes of investors’ and holders’ trust in Solana, dubbed the “ Ethereum killer” by some of its more ardent users. Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.ĭespite all the turbulence Solana (SOL) witnessed over the past six months, it remains a top-10 asset by market cap in the crypto sphere.
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