Solana's SOL Token Surges 125% in 2023, Outpacing Bitcoin

Solana's SOL Outpaces BTC, Despite SBF's Downfall

The SOL token of the Solana blockchain has doubled in value this year, outperforming Bitcoin.

SOL is up about 125% since Dec. 31, 2022, surpassing gains in other major tokens.

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Solana's association with former crypto mogul Sam Bankman-Fried has turned toxic due to his FTX empire collapse.

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Interest in Solana began recovering in January after the launch of BONK on the network.

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"Solana has suffered from the FTX overhang, and the protocol suffered numerous outages," said Markus Thielen, head of research at Matrixport.

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Solana's rollout of Saga, a mobile phone customized for crypto, is helping to boost its growth.

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Despite recent success, questions remain about Solana's longer-term prospects in the wake of the 2022 market crash and digital-asset blowups.

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