Analyzing Solana's price over the past 5 years, CoinDesk shows a trajectory marked by rapid surges followed by corrections, characteristic of emerging technology sectors. In 2021, Solana's price skyrocketed from $1 to over $250 amid the DeFi and NFT wave. However, the 2022 bear market led to a decline below $50. The recovery beginning in late 2023 is attributed to strategic partnerships and technological improvements, including the deployment of Solana's Layer 2 solutions, demonstrating their critical role in sustainable price growth and investor confidence.
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Analyzing Solana's price over the past 5 years, CoinDesk shows a trajectory marked by rapid surges followed by corrections, characteristic of emerging technology sectors. In 2021, Solana's price skyrocketed from $1 to over $250 amid the DeFi and NFT wave. However, the 2022 bear market led to a decline below $50. The recovery beginning in late 2023 is attributed to strategic partnerships and technological improvements, including the deployment of Solana's Layer 2 solutions, demonstrating their critical role in sustainable price growth and investor confidence.