Solana has been on an incredible run lately, but it looks like the network is far from over. The most recent development is the acquisition of the official Solana explorer known as Solscan by the crypto industry's leading blockchain explorer.
Etherscan acquires Solscan
The Etherscan name has become synonymous with blockchain exploration and has served big names like ethereum and Avalanche over the years. As it continues to expand, it has added the largest blockchain explorer to the Solana network.
On Wednesday, January 3, Etherscan took to its X account (formerly Twitter) to announce the new acquisition. He revealed that Solscan is now officially part of the Etherscan ecosystem. “With the addition of @solscanofficial to the team, we look forward to continuing to execute our vision of providing credibly neutral and equitable access to blockchain data.”
This acquisition comes just a few months after the blockchain explorer had to negotiate with one of its largest clients, Avalanche. The Avalanche network had revealed in 2023 that it would stop using the Etherscan service for its official browser.
The crypto company had apparently been paying more than $2 million a year to Etherscan to use its technology in its Snowtrace blockchain explorer. Avalanche would eventually partner with a smaller, lesser-known service provider, but in the process provide a cross-chain service now domiciled on the same Snowtrace website.
SOL price trending at $107 | Source: SOLUSD on Tradingview.com
Solana on the brink of bigger things
Currently, Solana is on the lips of all investors who are not only looking for the recovery of the asset's price but also the growth of the tokens in the blockchain. Solana since then evolved into the home of meme coinssurpassing ethereum in DEX volume as well as USDT volume.
Amid this, there have been calls for the continued increase in SOL price. A PS Trade analyst believe that the price of the coin could reach $1,000. According to the analysis published on TradingView, the analyst says that there could be another breakout attempt towards $148-158 before the local high arrives.
From there, once FTX begins selling to pay creditors, PS Trade expects SOL price retrace between $45 and $70, which they identify as a buy point. From this level, growth of 1,500% to 2,000% is expected, which will raise the price above $1,000.
crypto analysis also praised the network for its resilience following the FTX collapse. “SOLANA has demonstrated the resilience and skill of the project's creators. They managed to revive a project that seemed to have drowned along with FTX,” PS Trade said.
Featured image from Coinfomania, chart from Tradingview.com
