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Solana is a fast and secure cryptocurrency platform that aims to provide an efficient, scalable and decentralized infrastructure for decentralized applications (dApps). After a three-day slump that saw the cryptocurrency fall by 8%, Solana (SOL) triumphantly recovered and rose 5%. The speech by US Fed Chair Jerome Powell sent optimistic signals to traders since it provided the ideal setting for reversing the price trend for SOL. It only took the utterance of the word "disinflationary" to start a purchasing frenzy and raise the price of Solana to all-time highs. When the dust cleared, traders discovered that Powell's speech was not as upbeat as they had first believed, which fueled a drop in confidence and Solana's potential. More about Solana Rally By examining the solana cryptocurrency's recovery rate during the past month, analysts predict a surge. According to specialists from a reputable cryptocurrency group, the price of Solana could increase in 2023. On the daily time frame chart, SOL cryptocurrency has been consolidating since the 14th of January, nevertheless. Investors in Solana must hold off until the price of the cryptocurrency holds and returns to the higher price range of the consolidation period. The transaction speeds and success rate of the Solana network is still at par with a number of its rivals. According to Sol Scan, the success rate of Solanas transactions has fairly remained above 75% in the majority of the cases. This comes in light of the congestion in Solanas network. If Solana price prediction manages to sail across the challenges of the crypto-verse, whilst fixing the consensus issues. According to Coinpedia price of SOL might escalate upwards of $36.87.
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