The crypto space seems to be clearing out weak hands as the Chinese market manipulation keeps wreaking catastrophe in the market. The total market cap stands at $1.857 trillion, down from a 14-day high of $2.2 trillion reached on 26th September 2021.
Despite the market crash, Solana performed pretty well by not allowing its price to drop below $100. Currently, the SOL price is attempting hard to surpass the psychological level of $150!!Even the platform has the strong potential to reach higher highs with series of upgrades are lined up.
How Terra Luna’s Columbus 5 Upgrade Will Skyrocket SOL Price?
Terra Luna price has seen massive gains in recent months, smashing a new ATH. The price recently hit new ATH at $44.34, making it one of the top crypto assets among the top 15. Followed by the spectacular performance Terra is getting ready for the much-awaited Columbus 5 upgrade launch on 30th September 2021.
Columbus 5 upgrade will bring cross-chain integration with the most prominent blockchains in cryptos like Solana, Polkadot and Cosmos. The upgrade could act as a major catalyst for the whole terra ecosystem and even can further push the SOL, DOT and ATOM prices.
Terra’s upgrade also aims to allow the integration of a wormhole which acts as the bridge linking Terra and Solana. This allows ongoing projects and platforms to move tokenized assets seamlessly across various blockchains.
According to the chart shared by popular crypto analyst Daniel Cheung, the Solana ecosystem witnessed massive growth. The total value locked (TVL) in Solana surged by 1,657,043% in the last six months reaching 11.6 billion. He added, LUNA is the most undervalued coin despite all the upgrades and huge TVL.
Solana and Terra Luna Price Analysis:
The SOL price is currently trading at $134.58 at the press time. If the price rebounds off it, the bulls have the chance to reach new highs. If bears overtake the market, the SOL has a major support level near $75. Still, SOL price can manage to sustain between $110 to $115.
Collectively, prior to the upgrade, Terra Luna formed few major bull flags in September. Yet to see how it could impact the SOL price once it comes into effect.