Solana, a public blockchain platform, has suffered 11 significant attacks over the last year resulting in a total loss of ~$523 million.

Vitalik Buterin believes Solana has a bright future ‘now that the awful opportunistic money people have been washed out.’

Buterin believes Solana still has intrinsic value and can recover from its current predicament.

Solana (SOL), once a praised contender for Ethereum, is now down 96% form ATH.

Solana-based automated market maker (AMM) Raydium was exploited. The exploit affected liquidity pools and hackers stole more than $4 million.

Solana’s price has achieved an unexpected week-long rally, causing it to significantly outperform almost all other cryptocurrencies. As the price of the centralized smart contract token stabilizes, investors are showing interest in how high it can go.

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’s usage data and ecosystem development do not support the recent bullish rally, raising the probability of a SOL price correction.

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The discussions are expected to be interesting to watch out given the regulatory scrutiny increasing in recent weeks.

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