Solana (Sol) showing a bullish pattern following the launch of carbon emission tracker
On-chain metrics show that huge numbers of crypto Investors are showing their Inclination toward Solana (Sol) coin investment.
Solana is a popular Proof-of-stake (PoS) blockchain network. Because of Solana’s unique protocol Proof-of-history (PoH), the Solana network can easily process transactions with a scalability of upto 60,000 TPS which is itself a very big number for any crypto network. Crypto firms FTX & Alameda Research were two big backers of Solana investors and the bankruptcy of these two firms caused a significant downfall of the Sol, the native coin on the Solana network, trade price.
Recently Solana Foundation announced the launch of Solana Climate, a carbon emission & energy consumption real-time tracker.
This index will help the Solana blockchain users to get real-time energy consumption detail by the Solana network and also the CO2 emissions because of the Solana blockchain network.
Sol coin
On-chain metrics are showing that crypto Investors are now bullish on the Solana crypto project and expecting a better future with the Solana ecosystem.
Sol coin’s market cap rose to $8.6 billion, a significant increase of $312 million in just 24 hours.
After the Carbon footprint tracker launch, the Solana blockchain also saw a 12% increase in the daily active addresses.
Solana downfall
The latest metrics & development works are showing that Solana is getting into a better condition.
Crypto Hedge firm Alameda Research was one of the top investors in the Solana (sol) coin. In Nov Alameda Research collapsed with the FTX exchange and in that situation, Alameda tried to handle the situation via liquidating the Sol coin holding, along with other crypto holding. The whole news acted as a very big negative factor to increase the selling pressure sentiment in the Sol coin trade market.
Later in late Dec 2022, Ethereum co-founder Vitalik Buterin talked about the Solana project and noted that Solana may have a bright future.
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