Solana SOL/USD has increased its value by 12% in the last 24 hours, breaking through the $11 mark.

What happened?: This increase comes after ether ETH/USD founder Vitalik Buterin expressed his optimism for Solana’s future by tweeting that “smart people” had informed him that the intelligent developer community in Solana is thriving and that the chain has a “bright future” now that “the terrible opportunistic money people been washed out”.
Apex Crypto Bitcoin BTC/USD was traded at $16,679, up 0.49% in the last 24 hours, while Ethereum is up 1.47% to $1,215.

Buterin also wished that the Solana community “gets its fair chance to thrive.”

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Since last month, SOL is down around 20% and is down around 95% from its peak of almost $260 in November 2021. This exhaustion has caused SOL to lose its position as the 5th most important cryptocurrency to 19th place.

The recent sinking of FTX and Alameda Research had one major influence on the price development of Solana. To make matters worse, several major projects have also announced plans to discontinue tHereditary development within the Solana ecosystem in the last few months.

price action: At the time of writing SOL was trading at $11.16, up 12.25% in the last 24 hours, according to Benzinga Pro.

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