In 2022, the Terra blockchain and UST stablecoin collapsed, causing significant turmoil in the crypto space. Solana (SOL) was heavily impacted by this and the subsequent downfall of FTX, leading to alarmingly low prices.
By January 2023, SOL's value had significantly decreased, hitting bottom levels. However, it made a remarkable recovery over the next two years, climbing to unprecedented highs.
Solana's journey is a testament to its resilience and growth, standing strong amidst challenging events and regaining its position in the cryptocurrency market.
