What is happening with Solana and why did it rise 80% in 30 days (more than Bitcoin)? Here’s everything you need to know about this blockchain technology.
Solana is emerging as one of the most promising blockchain investments of 2023, with spectacular growth that has captured the attention of investors and cryptocurrency enthusiasts. In the last 30 days, the price of SOL has increased by more than 80%, even surpassing Bitcoin. But what is fueling this boom? In this article, we will look at the reasons behind Solana’s success and why it is gaining ground on Ethereum.
Solana against Ethereum
The price of Solana (SOL) has soared by 80% in the last month. This exceptional performance has attracted the attention of many investors and cryptocurrency enthusiasts. Surprisingly, SOL even surpassed Bitcoin in terms of percentage gain, demonstrating its potential in the cryptocurrency ecosystem.
A key element of Solana’s success is its advanced technology and ability to support decentralized applications at scale. The Solana blockchain is designed to handle a high volume of transactions per second, making it fertile ground for DeFi projects, NFTs, gaming, and Web3 applications. Additionally, Solana has introduced innovative consensus solutions such as proof of history (PoH) and Tower BFT to ensure efficiency and security.
Solana tokenomics and use cases
Solana’s tokenomic is based on its native token, SOL, which plays a crucial role within the network. SOL is used for transactions and to interact with dApps on the platform. Additionally, users can stake their SOLs to contribute to network security and receive rewards.
Solana accommodates a variety of use cases thanks to its scalability and low transaction fees. These include DeFi, NFTs, play-to-earn games, and Web3 applications. The Solana blockchain has proven to be a fertile ground for innovation and is attracting more and more developers.
Solana, price forecast
However, not everything is rosy for Solana. The blockchain has faced several stops in its history, which have called into question its reliability. Some of these have remained unexplained, creating concerns among the crypto community. Stability is a critical aspect that Solana must improve to maintain investor confidence.
When it comes to price predictions, different sources offer different perspectives. Some predict that SOL will reach stellar values by 2025 and 2030, while others remain more cautious due to the technical challenges faced by blockchain in 2023.
According to VanEck’s recent report, the price forecast for SOL indicates significant potential. With an optimistic assumption of Solana hosting the world’s first 100 million user dApp, the report predicts a base price of $335 for SOL by 2030. However, in a more bullish scenario, the token could reach $3,211 ( +10,000%). It is important to note that to realize such prospects, Solana will have to achieve Ethereum-like dominance in the on-chain transaction market. The report also highlights that blockchain technology has yet to present a “killer app” to fully integrate into the daily lives of global consumers. These forecasts indicate significant growth potential for SOL, but it is crucial to consider that the cryptocurrency market is inherently volatile and subject to sudden changes.
In conclusion, Solana is emerging as a serious competitor to Ethereum thanks to its advanced technology and diversified use cases. However, technical challenges represent an obstacle that Solana must overcome to consolidate its long-term success. Investors should make informed decisions and carefully consider price predictions, always remembering the volatility of the cryptocurrency market.
Original article published on Money.it Italy 2023-11-02 17:42:49. Original title: Perché Solana è il killer di Ethereum (con upside del 10.000%)
