{"id":482937,"date":"2022-02-04T22:46:46","date_gmt":"2022-02-04T22:46:46","guid":{"rendered":"https:\/\/wncen.com\/?p=482937"},"modified":"2022-02-04T22:46:46","modified_gmt":"2022-02-04T22:46:46","slug":"solana-price-soars-10-as-325-million-reinstated-on-wormhole","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/solana\/solana-price-soars-10-as-325-million-reinstated-on-wormhole\/","title":{"rendered":"Solana Price Soars 10% As $325 Million Reinstated on Wormhole"},"content":{"rendered":"
The Solana price has been on an upswing ever since the bloodbath that followed DeFi’s largest hack of 2022. The Wormhole network stated that stolen money had been restored, giving Solana price some much-needed relief.<\/span><\/p>\n Related Reading | <\/i><\/b>Solana price recovers from downtrend after $325 million restored on Wormhole network<\/i><\/b><\/a><\/p>\n After hours of being lost to what some call the largest DeFi hack, the crypto was restored. Jump Crypto’s currency-focused arm worked in tandem with other Quant trading firms, and together, they were able to restore all funds that hackers had stolen from investors last week.<\/span><\/p>\n Jump Crypto stated;<\/span><\/p>\n \u201cwe believes in a multichain future and that Wormhole is essential infrastructure. That’s why we replaced 120k ETH to make community members whole and support Wormhole now as it continues to develop.\u201d<\/span><\/p><\/blockquote>\n The firm’s decision to replace 120,000 Ether in support of community members on the Wormhole network revealed that hackers failed to refabricate stolen cryptocurrencies.<\/span><\/p>\n Yesterday’s exploit compromised $325 million worth of Ether, and the Wormhole network offered a 10-million dollar bounty for information on who did it. Unfortunately, the hacker still has access to these funds, meaning they have rejected the offer.<\/span><\/p>\n Related Reading | <\/i><\/b>Wormhole Token Bridge Lost $321M In Crypto Heist<\/i><\/b><\/a><\/p>\n The price of Solana dropped nearly 10% after news broke about the Wormhole exploit. The largest DeFi hack on Solana acted as a negative factor for this altcoin, heavily influenced by lousy publicity.\u00a0<\/span><\/p>\n A cryptocurrency analyst and trader widely followed for his accurate price predictions by investors of all sizes across the board, <\/span>Johny noticed<\/span><\/a> that Solana might be ready to make its next move up. Further, he noted an upward pattern developing within range lows before Ethereum killer could start its leg straight back down again.<\/span><\/p>\n \u201c$SOL beautiful retest of range lows. Flip range highs and next leg upstarts. Haven\u2019t seen this much strength from Solana in what feels like forever.\u201d<\/span><\/p><\/blockquote>\nSolana Price Recovery From Bloodbath<\/h2>\n