The co-founder of Solana shared how difficult it was to attract investors at the initial stages of the project's development. Venture capital funds considered the ecosystem concept to be completely untenable.

"Almost six years ago, I started raising funds for the project that later became Solana. I communicated with all my friends, participated in meetings with representatives of startups and the cryptocurrency community and tried to attract everyone's attention," Yakovenko said in a message on the social network X (formerly Twitter).

The co-founder stressed that it took him "more than two months and hundreds of presentations" to receive the first investment for the project in the amount of more than $ 500,000:

"At the same time, most venture capital funds believed that the idea of an alternative L1 had already been outlived."

These reflections of the co-founder came in light of the noticeable growth of key indicators of the Solana ecosystem. The beginning of the fourth quarter of 2023 was characterized by a rapid increase in the value of the SOL cryptocurrency, which is gaining momentum and seeks to compete with ether. Since reaching the $8 mark, the price of SOL has increased by more than 395%.

Analysts at Binance, the world's largest crypto exchange, have concluded that the digital currency market is beginning to recover rapidly by the end of November. They highlighted the explosive growth of Solana.

Also, the former CEO of the BitMEX cryptocurrency exchange, Arthur Hayes, acquires SOL and shares it on his social networks.