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3 Crypto Assets (SOL, TRX, and AVAX) Resurrected in 2023

Discover 2023’s Resurrected Crypto Assets: SOL, TRX, AVAX – Astonishing Turnarounds & Surging Growth Stories Unveiled.

ShahZaib Ahmed

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3 Crypto Assets (SOL, TRX, and AVAX) Resurrected in 2023

The crypto market significantly recovered in 2023, particularly in the fourth quarter. Bitcoin (BTC), the leading crypto asset also surged significantly and led the market with 160% YTD (year-to-date) gains. This bullish crypto market trend uplifted many cryptocurrencies and depicted substantial gains in 2023. In this article, we shall mainly explore the three cryptocurrencies, Solana (SOL), Tron (TRX), and Avalanche (AVAX) turned back from death, surged and made significant growth in 2023.

Solana’s Big Comeback

Solana (SOL) experienced a remarkable resurgence in 2023, surging by a staggering 1,215% from its lowest point of $8.27 in December 2022. Moreover, it has soared by 485% compared to Bitcoin since its cycle low of 0.00004952 BTC on June 5th.

Sol price analysis

In 2022, SOL’s price dropped by 95% due to FTX issues, hitting under $10. However, in 2023, Solana bounced back due to its strength during FTX’s bankruptcy, growing use of decentralized apps, higher demand, stable network, mobile-friendly features, and faster transactions. This attracted new users and developers, boosting Solana’s standing and adoption.

Also Read: Analyst Predicts Bullish Surge for Optimism (OP) and Arbitrum (ARB)

Tron (TRX)

Tron (TRX) experienced a staggering drop of more than 98% during the crypto market’s bearish period between 2018 and 2020. However, since hitting a low near $0.0076 in March 2020, TRX/USD has surged by over 1,270%, marking a substantial turnaround. This surge includes a notable 100% rally in 2023.

TRX price analysis

The remarkable upward movement in Tron’s value aligns with its impressive performance within the decentralized finance (DeFi) sector. Particularly striking is the growth in the total value locked (TVL) across the Tron ecosystem, which has soared from around 30 million TRX in April 2020 to an impressive 76 billion TRX, equivalent to approximately $8 billion, as of December 2023.

Avalanche (AVAX)

Avalanche‘s price surged around 370% from its low of $8.65 in September 2023, bouncing back strongly after a huge 94.25% drop in the bear market. This rebound coincided with the release of nearly 19 million AVAX tokens in the latter part of 2023.

AVAX Price Analysis

Despite the price rise suggesting the market absorbed the extra tokens, Avalanche’s network metrics reveal lower demand. For example, the Total Value Locked (TVL) in the Avalanche ecosystem fell to about 23 million AVAX in December from 55 million AVAX in September when the price rally began.

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