Why Solana Has Outperformed Ethereum, SOL Up 36% In One Week
Solana (SOL) is the best performing asset in the crypto top 10 by market cap. The market seems to be positively reacting to Solana Labs’ smartphone announcement as the cryptocurrency is surging faster than other assets in this tanking. Related Reading | Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead? At the time of writing, SOL’s price trades at $42 with a 12% and 36% profit in the last 24 hours and 7 days respectively. In the meantime, the second-best performing cryptocurrency is XRP with a 16% profit in the past week, followed by Polkadot (DOT) with 15%, and....
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One developer, “0xIchigo,” behind Helius, a software company developing infrastructure for users to build on Solana, thinks Solana is winning the energy efficiency race. However, competing platforms, especially Ethereum, are here to stay. Ethereum Is Here To Stay, Solana Is Winning The Energy Efficiency Race Ethereum and Solana aim to serve the same user base, but the […]
The price of Solana (SOL) has continued to enjoy a steady recovery after going down nearly 95% in 2022, partly due to its association with Sam Bankman-Fried and his collapsed ventures, FTX and Alameda Research. Solana’s Price Surges 100% In Q1 2023 In the first quarter of 2023, Solana’s price experienced a significant surge of 104%, reaching approximately $20.60 per SOL. This growth rate outperformed every other cryptocurrency in the top 25, including Bitcoin BTC ($27,946) and Ether ETH ($1,849). Solana’s price performance in January 2023 surpassed any other month since....
Solana has already cemented its reputation as one of the largest competitors of Ethereum which had earned it the nickname of ‘Ethereum Killer’. The community has run with this narrative and it has led to a fierce rivalry between the communities behind both networks. However, Solana founder Anatoly Yakovenko has actually come forward to debunk […]
Bank of America’s analyst says that Solana could take market share away from Ethereum. Noting that Solana is optimized for micropayments, gaming, and non-fungible tokens (NFTs), the analyst expects “Solana could become the Visa of the digital asset ecosystem.”
Bank of America on Crypto, Ethereum, and Solana
Bank of America (BOFA) analyst Alkesh Shah published a research note on cryptocurrency this week arguing that Solana could take market share away from Ethereum.
The Bank of America analyst described that Solana “produces a....
Solana has gained the favor of institutional investors recently which has seen a marked increase in the amount of inflows that the altcoin has recorded. This trend has continued with last week’s numbers which show a significant amount of inflows for Solana compared to the likes of Ethereum. Solana Inflows Reach $15.5 Million According to data from the latest CoinShares report, the inflows into Solana for the last week came out to $15.5 million. This came while some altcoins such as Ethereum saw outflows for the week. For context, Ethereum outflows reached $7.4 million in the same time....