The crypto market continues to trade partially in red as Binance linking with Bitzlato financial crimes has impacted the market. Some significant coins are increasing in the last 24 hours, however, others are still slightly down.

SOL, the native currency of the Solana blockchain, has doubled its price since mid-December to hover around $21, reaching as high as $24 earlier this week, roughly where it stood before investors started fretting over its entanglement to beleaguered crypto exchange FTX and its sister company Alameda Research. Over the past week alone, SOL has risen 22%, up 114% this year. The surge started after a favourable tweet by Ethereum co-founder Vitalik Buterin, who expressed “hope” that the Solana community “gets its fair chance to thrive” in a tweet, shortly after SOL had plunged to a record low of $8.19. <br><br>Buterin’s comment headed off damage from reports that the token was the second-largest holding of Alameda Research, the trading arm of FTX whose unruly balance sheet sparked FTX’s descent into bankruptcy protection. However, SOL had already declined significantly prior to the FTX revelation. According to data from DefiLlama, the total value locked (TVL) on the Solana chain dropped 96% in 2022, from $6.68 billion in January to $206 million at the end of December. (Coindesk)

After gaining by over 45% in the past week, Solana (SOL) seems to be preparing for yet another gargantuan move as more odds pile in its favor.

After a long period of FUD and bearish sentiments around the smart contract protocol, Solana, many popular crypto pundits, and TA experts suspect SOL to rally in the coming days or weeks.

Solflare, a wallet on the Solana network, announced on Monday that its users can now pay higher gas fees to muscle through network congestion. “Solflare is the first to implement this in a user-friendly way," Solrise Finance co-founder Vidor Gencel tweeted. “In-wallet transactions will automatically be prioritized with the current market price for fees, ensuring that your transactions are included faster than those in other wallets.” Also, "Solflare will automatically detect whether the [Solana] network is under load and slightly increase fees to prioritize your transaction over others," the company tweeted separately. "When it matters the most, your transactions will go through and be fast." (Decrypt)

Austin Federa, head of strategy and communications at the Solana Foundation, has hinted at major development for the Solana network in 2023, igniting a major spike in SOL’s price after more than three months in the doldrums.

Solana started the week trading near a two-month high, as momentum remained marginally bullish, despite market consolidation. The global cryptocurrency market cap is currently trading 0.98% higher as of writing. Shiba inu also traded close to recent highs, despite declines on Monday.

The meme-based cryptocurrency, Bonk (BONK), recently had considerable capital inflows, but is now under selling pressure with the early enthusiasm around the token appearing to be waning.

Polygon [MATIC] displaced Solana [SOL] off the 10th position on the market capitalization standings according to information from CoinMarketCap. The ousting happened despite SOL recording more than two times MATIC’s gains in the last seven days.

After collapsing more than 80 percent over the course of last year, Solana is having a stellar in 2023. The price of SOL has more than doubled this month, rising more than 58 percent to $23.70 in the last seven days, according to CoinGecko.

According to data by CoinGecko, SOL has gained 40% in the last 24 hours, sparking excitement across the entire Solana ecosystem. Although it remains unknown how long the altcoin can sustain such momentum, these significant price gains indicate an increasing positive sentiment from investors.

The rally from the past two weeks has pushed the cumulative market cap of all crypto assets to above $1 trillion for the first time since the FTX debacle.

Solana Foundation, the non-profit organization of the Solana Network, disclosed on Jan. 14 a security incident involving its email service provider Mailchimp.&nbsp;

According to data by CoinGlass, short traders suffered around $457 million across major centralized exchanges over the past day. Crypto exchange OKX took the lion’s share of these liquidations at over $241 million, followed by Binance at $116 million.

Solana (SOL) seeks to move back into the top 10 cryptocurrencies after temporarily flipping Polygon market cap on Jan. 14.

Citi (C), in a research study published on Thursday (12 January 2023), stated that despite the fact that an estimated 50 million Solana (SOL) coins are stuck in the Chapter 11 proceedings of cryptocurrency exchange FTX, there is still a significant amount of activity on the Solana blockchain.

Activity on the Solana blockchain remains high even though there are an estimated 50 million solana (SOL) tokens locked in crypto exchange FTX’s Chapter 11 proceedings, Citi (C) said in a research report Thursday.

The 7-day average active addresses on the Solana ($SOL) ecosystem has surged from 378.2 million at the end of last year to 490.5 million as of January 7 representing an increase of 29.7% in so little time.

With the recent hype and increase in meme coins on Solana over the past weeks, the network has gained a significant amount of momentum, pushing it to an uptick both in on-chain activity and trading volume.&nbsp;

The U.S. Department of Justice is investigating the two brothers behind Solana stablecoin exchange Saber Labs, Ian and Dylan Macalinao, according to two people familiar with the matter.