Since being hit by the storm during the FTX case, Solana has fallen deep into the $20s area. It had plunged to below $10 but in fact $SOL Many people still believe it.
However, if we look at the Solana chart with a 1 day tf, it is clear that $SOL is trying to maintain itself in the $20 price range.
Remembering that previously $SOL had the title "BNB K1ller" now it has disappeared because of the case at FTX and the continuous bear market.
Is Solana capable of returning to ATH? Below, Mimin gives calculations by Data of how much market cap Solana needs to return to ATH.
With the current supply of Solana circulating at 416 million Solana and having a market cap of $8.87 billion, the price of Solana is now $22.00.
The ATH value of Solana was $260 which occurred in 2021.
So we use the following formula đ
Marketcap = Circulating Supply Ă ATH Price
Marketcap= 416,000,000 x $260
Marketcap = $108,160,000,000
So you can see the results that Solana needs a market cap of $108 billion.
Whether or not Solana returns to Ath depends on whether Solana can reach that market cap.
