Why has Solana started to rise now? There are many different factors that trigger the rise in Solana (SOL). In this part of our article, we will take a closer look at the catalysts that led to the rise in Solana (SOL).
Strong Management Team
Despite all the negativities, Solana’s development team continued to remain strong. Anatoly Yakovenko, co-founder of Solana, is one of the leading names in the cryptocurrency industry and is very optimistic about blockchain-based games.
Raj Gokal, another founding partner of Solana, is also among the distinguished names of the technology world. Raj Gokal believes that Solana is moving towards becoming the Apple of the cryptocurrency world. For this reason, Raj Gokal hopes that Solana will dominate the cryptocurrency industry, just like Apple has established in the technology world.
NFT Community Is Growing
One of the most important elements that makes Solana stand out among its competitors is its strong community in the NFT industry. Many projects such as Drip Haus, Aurory, Taiyo Robotics, Mob Studios and Dandies are included in the Solana ecosystem, which increases interest in Solana.
Technical Improvements
Solana (SOL) continued to make technical improvements even when the cryptocurrency market hit bottom. Therefore, this further increases the faith of the Solana community in the project. Recently, the Solana team released a new update that improves the technological capacity of the network and reduces its hardware requirements. With this upgrade, optional zero-knowledge compatible encryptions have been added, allowing network transactions to be carried out much more securely.
Strategic Partnerships
Solana has recently partnered with key brands in the cryptocurrency ecosystem. These brands include Chainlink (LINK), Serum (SRM), ChainSafe, Saber Lab, Bonfida, Raydium (RAY) and Mercurial Finance. The increase in the number of these partnerships increased the usage areas of Solana and the global recognition of the project.
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