After the collapse of FTX, it was thought to be over, but with the start of 2023, Solana has begun an incredible rise. During this period, the SOL price increase has attracted the attention of the entire cryptocurrency world.
Tron’s founder Justin Sun highlighted Solana (SOL) and announced an update that could further increase liquidity in the Solana blockchain, following a 61% price increase since December 1, 2023. The recent surge in SOL price has allowed Solana to overtake Binance Coin (BNB) in terms of market value, securing the 4th position.
Good News for Solana
On Friday, December 22, 2023, Sun shared his plans to integrate the Tron wallet with the Solana blockchain. According to data on the Tronlink website, the Tron wallet has over 10,000,000 users worldwide and supports more than 100,000 tokens.
Justin Sun, tagging Solana co-founder Raj Gokal and Solana Labs co-founder Anatoly Yakovenko on platform X, addressed them with the following words:
Tron Wallet is exploring integration with the Solana blockchain. What are your thoughts on this potential collaboration?
This comes after reports linking the situation to the cryptocurrency exchange Huobi Global, which was previously acquired by Sun. In April 2023, it was announced that Justin Sun had purchased the crypto exchange for approximately $1 billion following the sale of majority shareholder Leon Li’s shares in 2022.
Despite all this, Tron’s founder Sun recently denied having any stake in Huobi. Justin Sun continues his role as a global advisor for the Huobi exchange due to his duties.
Will Solana’s Price Reach $100?
Interestingly, the announcement made by Sun coincided with a period when Solana (SOL) received strong support from institutional investors and surpassed BNB.
At the same time, bigger developments are happening in the crypto market. The likelihood of the U.S. Securities and Exchange Commission (SEC) approving the first spot Bitcoin ETF in the United States is increasing, with the first two weeks of January being indicated. This could potentially trigger a bull run in cryptocurrencies.
In the news we shared this morning, we reported that institutions and large investors had started selling SOL. Arthur Hayes, one of the founders of the Bitmex exchange, stated that he sold SOL and switched to Ethereum.
