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Solana Takes the Cryptocurrency Market by Storm Using Its New Features and Successfully Sets a New Record.

Solana Takes the Cryptocurrency Market by Storm Using Its New Features and Successfully Sets a New Record.

Solana introduced new features and the price of Solana rose to $500.

We, as people who have entered the world of blockchain cryptocurrency, certainly already know the advantages of the SOLANA network. where the SOLANA network has the advantage of super high speed in transactions and has been recognized and has recorded the highest record in growth in 2023.

Early in 2024 the Solana team announced a series of extensions to the Solana Chain Standard (SPL) token through the SOLANA FOUNDATION. This design is useful for expanding the momentum of adoption by business people and can also improve the experience of users in making transactions using the SOLANA network.

The explanation of the word SPL is an abbreviation of the words Solana Program Library and a framework that allows developers of (NFT) non-fungible and (FT) fungible tokens to create them easily on the SOLANA blockchain network.

This new step was actually taken by the Solana team specifically to increase user privacy, security and compliance. That way, Solana network users will have better control over commissions and when making confidential transfers they will also get more detailed control and have benefits for users. That way, companies or individuals can enter the world of blockchain smoothly without any obstacles.

Blockchain and DeFi specialist companies such as GMO-Z and Paxos have used this excellent feature and have launched new stablecoins on the blockchain network.

As we already know, GMO-Z is a company that comes from Japan and focuses on specializing in blockchain and DeFi, they are the owners of ZUSD and GYEN and recently there were rumors that they are also an investor in SOLANA.

In previous years, Solana did have several problems that really bothered users when carrying out transactions on the Solana network. However, they can control this easily in 2023 by providing SOLANA token performance which is very impressive for Solana fans.

The development of the SOLANA token when viewed from its prospects is also extraordinary, this is what makes Solana flooded with new investors from various ages and countries. This is very useful for Solana development, because it can provide a better and more efficient growth boost.

In fact, if we look at Solana's investor strength, it is quite impressive and can be the envy of other blockchain networks, because there are Multicoin Capital, Visa, Coinbase, CMS Holdings and many other big investors.

Some time ago Solana investors or traders had concerns because the price of the Solana token experienced a risk of almost 30% from its highest price in 2024. In fact, for a token that has experienced a large increase of up to 1000% from its lowest price in 2023, this is quite normal, because the toke will correct in a few weeks to make room for the next price increase towards $500.

Even so, in the 4th week of 2024, Solana has shown signs of recovery towards the price of $500 and this also coincides with the easing of selling pressure on BITCOIN, thus having an impact on cryptocurrencies as a whole.

SOLANA's achievements don't stop there. TOTAL VALUE LOCKED recorded a new high for the SOLANA token in 2024, reaching $1.2 billion, this achievement increased by 500% from the previous level which was only around $211 million in 2022.

This proves that Solana is getting a huge boost from various factors, such as new users in cryptocurrency, application development projects as well as new investors flocking to SOLANA.

This can also prove that new investors who come to use Solana are very confident when they experience the technology provided by Solana itself and have potential that can be relied on in the DeFi industry.