Solana smart contracts on the rise after FTX-Alameda collapse

Recent data indicates that Solana smart contracts are on the rise.

Stats from Artemis show that an increase in unique contracts are making an appearance on the network.

After suffering multiple outages and the FTX-Alameda collapse, Solana is still kicking.

Solana contracts on the rise after FTX collapse

A stream of unique smart contracts are being created on Solana. These unique contracts can be anything from new NFT tokens, decentralised applications, or cryptocurrencies.

Data from Artemis shows that unique smart contract deployments have been steady and slightly up since the start of 2023.

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After the FTX-Alameda collapse, the Solana blockchain and SOL token encountered some of its darkest days, with hordes of traders fleeing the network in case the Solana team's funds were directly linked to FTX.

Luckily, the Solana network is slowly recovering and traders are still active on the blockchain with old traders returning. The data on new smart contract deployment indicates that the network is healing in some way.

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SOL price

After reaching a new all-time high of $259 in November 2021 the SOL token has since fallen over 91% to $22. In December 2022 the token fell to lows of $9.00. Meme coins like BONK have given some life back to the wounded network, but it is still unclear how well the SOL token will recover in the future.

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