Bitcoin recently broke through a $68,000 resistance level, leading to a rally among altcoins. This has led to a 5% price rebound on Friday and boostd interest from investors.
The long-term outlook for Solana is positive, as a break past $160 could invalidate the current bearish trend and lead to further gains.
However, there is optimism surrounding the Firedancer validator developed by Jump Crypto, which is aimed at improving the Solana blockchain performance. The total market capitalization is $2.44 trillion, with Bitcoin holding 55% and Ethereum at 13%.
Solana’s price has been mixed this week, reaching a high of $158 and then declining over 4% due to lower network activity.
The cryptocurrency market is demonstrateing signs of recovery, especially for altcoins like Solana (SOL). Altcoins have been performing well in October, known as “Uptober” in the crypto community.
