Solana (SOL) has been one of the most recent success stories in the cryptocurrency market, rising more than 700% between January 2023 and January 2024. However, a recent pullback has paved the way for a new breakout star with similar or better potential.Retik Finance (RETIK) is a fairly new decentralised finance (DeFi) platform that analysts say will push DeFi boundaries. Retik Finance (RETIK) introduces a suite of DeFi products, including DeFi debit cards, a blockchain-based payment solution, and AI-powered lending, to bridge the gap between traditional and digital finance. As a result, recent demand flowing to the platform suggests that the token is on track for a rally that could dwarf Solana in 2024.
Solana (SOL) rose throughout the 2021 bull market, reaching an all-time high of $259.52 on November 6, 2021. A little over a year later, SOL fell by over 90% to a cycle low of $8. The two main contributors to this drop were a wider market selloff and the weakened investor confidence Solana experienced following the collapse of FTX, a major SOL backer, near the end of 2022.In 2023, the crypto coin shook off the FTX dust and recovered significantly. By the end of the year, Solana had rebounded from $8 to trade north of $100. Several factors contributed to this growth, including a clearer regulatory framework that restored trust in risky assets and ecosystem airdrops that rewarded and incentivized engagement within the Solana ecosystem.Solana has dropped to around $85 at the time of writing. Despite the pullback, the cryptocurrency still has enormous long-term potential.
While Solana takes a breather, Retik Finance (RETIK) has emerged as a much-needed successor to lead the 2024 bull run. Retik Finance has seen increased whale
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