Solana gains 80% in a month as Firedancer goes live on testnet

Solana gains 80% in a month as Firedancer goes live on testnet

Nov 01. 2023

By Jesse Coghlan

Solana (SOL $42) has posted 30-day gains of nearly 81%, and has rallied over 30% in the past week amid the testnet launch of the blockchain’s loawaited scaling solution Firedancer.

SOL reached over $41 on Nov. 2 touching highs it hasn’t seen since August last year, Cointelegraph Markets Pro data shows.

Long touted as an “Ethereum killer” — SOL has vastly outperformed its rival Ether (ETH $1,867) which posted under 11% gains in the past month.

Three-month SOL price chart with gains up nearly 81% in 30 days. Source: Cointelegraph Markets Pro

SOL-related investment products have also seen millions of dollars worth of inflows over the past weeks according to CoinShares. SOL is, however, still down around 84% from its Nov. 6, 2021, all-time high of almost $260.

On Oct. 31 at Solana’s Breakpoint conference, Solana Foundation executive director Dan Albert announced the testnet launch of Firedancer which Web3 development firm Jump Crypto has been building since last August.