He was brought down and punctured by his own backer that year, dropping 97%.
In 2017, a former engineer at Qualcomm wrote his whitepaper to solve a very specific problem: every time a ledger entry was recorded across the whole network, it had to be synchronized first, which was too slow. He stamped each transaction with a timestamp, so there was no need to argue about ordering afterward, and the speed went up. In March 2020, the main network lit up.
What he could do was only one thing: be fast. Block times of 0.4 seconds, with fees consistently under a penny. Later, those trades that had to settle within seconds, those meme coins that released hundreds of times a day—all of them came running toward him.
In November 2022, his biggest backer collapsed. That exchange and its affiliated funds held a large amount of him. During liquidation that month, he was driven from $260 down to $8. Everyone said he was done. But the people who could write code didn’t leave— the chain never stopped. In 2023, he climbed back on his own.
At his cheapest, he was $0.5008. Today, he’s $117.38. The 1,000 U that were thrown in back then are now 234,000 U.
Today, at $117.38, his market cap is $68.973 billion—7th among crypto assets. He’s still 60.0% away from his own all-time high of $293.31. Over the past 7 days, he’s up 18.76%.
Right now, here’s how the money is lining up: in the contracts, the side with more money is buying. The large holders’ long positions account for 71.13%. Retail long accounts make up 64.20%—and both sides are standing on the buying side. On the chart, the daily MA20 (104.82) is holding it from below. The 1-hour RSI14 is 54.12. Resistance overhead is 119.99; support below is 115.53. It’s tilted bullish on the short term.
Now is the early stage of a bull market—gold everywhere. If you hold long-term, $SOL can be entered at the current small-portfolio price; buy more as it falls, buy more the bigger the drop—small dips, small buys.
$SOL #Crypto market total market cap returns to $3 trillion
In 2017, a former engineer at Qualcomm wrote his whitepaper to solve a very specific problem: every time a ledger entry was recorded across the whole network, it had to be synchronized first, which was too slow. He stamped each transaction with a timestamp, so there was no need to argue about ordering afterward, and the speed went up. In March 2020, the main network lit up.
What he could do was only one thing: be fast. Block times of 0.4 seconds, with fees consistently under a penny. Later, those trades that had to settle within seconds, those meme coins that released hundreds of times a day—all of them came running toward him.
In November 2022, his biggest backer collapsed. That exchange and its affiliated funds held a large amount of him. During liquidation that month, he was driven from $260 down to $8. Everyone said he was done. But the people who could write code didn’t leave— the chain never stopped. In 2023, he climbed back on his own.
At his cheapest, he was $0.5008. Today, he’s $117.38. The 1,000 U that were thrown in back then are now 234,000 U.
Today, at $117.38, his market cap is $68.973 billion—7th among crypto assets. He’s still 60.0% away from his own all-time high of $293.31. Over the past 7 days, he’s up 18.76%.
Right now, here’s how the money is lining up: in the contracts, the side with more money is buying. The large holders’ long positions account for 71.13%. Retail long accounts make up 64.20%—and both sides are standing on the buying side. On the chart, the daily MA20 (104.82) is holding it from below. The 1-hour RSI14 is 54.12. Resistance overhead is 119.99; support below is 115.53. It’s tilted bullish on the short term.
Now is the early stage of a bull market—gold everywhere. If you hold long-term, $SOL can be entered at the current small-portfolio price; buy more as it falls, buy more the bigger the drop—small dips, small buys.
$SOL #Crypto market total market cap returns to $3 trillion