November 2, 2023
Solana continues its unstoppable rally, gaining another 12% in the last 24 hours and reaching its 14-month highs of $46. This impressive surge has allowed Solana to recover all the losses it experienced after the collapse of the crypto exchange FTX.
The Solana (SOL) price bulls remain in control, even as crypto exchange FTX unstaked over 500K Solana coins worth $21 million. This demonstrates the resilience of Solana's price in the face of significant sell-offs.
With the recent price rally, Solana has achieved monthly gains of over 80%, outperforming all other top ten cryptocurrencies with a remarkable 350% increase year-to-date.
It will be interesting to see if Solana can maintain its support at $40 and potentially trigger a further rally to $50. Additionally, the DeFi TVL on Solana has shown significant activity in recent weeks, indicating growing interest and participation.
At the Breakpoint 2023 event, Solana made a groundbreaking announcement regarding its integration with Amazon Web Services (AWS). Through the Node Runner app, Solana's nodes are now available on AWS for the first time.
This development is a major step forward, as it enhances the accessibility of Solana's network to enterprises and businesses worldwide. By accessing Solana's nodes via AWS, the deployment of consensus and Remote Procedure Calls (RPC) nodes is streamlined, eliminating the need for extensive technical expertise. This integration empowers enterprises to seamlessly connect their decentralized applications (dApps) to the Solana blockchain, unlocking its high throughput and cost-efficient transaction capabilities.
Dan Albert of the Solana Foundation expressed his excitement about this advancement, stating, 'This represents a significant milestone for the Solana ecosystem. The expertise required to run a node has significantly decreased, making it easier than ever to deploy on Solana.'