Solana Dominating Ethereum: SOL Analyst Now Targets $1,000
Following Bitcoin and other altcoins like Ethereum, Solana is edging higher, clawing its way back after sharp losses in June. Even though the buyers are yet to reclaim the $155 support level, the expansion over the last few days has seen the coin add 25% after plunging in early July. Is SOL Preparing For $1,000? These encouraging gains over the last few days have seen traders project major gains in the coming days and weeks. Taking to X, one analyst said the coin would easily be more than 6X from spot rates, rallying to as high as $1,000 in the next bull cycle. As things stand, it is....
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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....
David Hoffman, a crypto analyst and Ethereum influencer, has picked out a concerning disconnect in Solana relating to the number of SOL issued and the fees the network captures. Taking to X, the social media platform, Hoffman said Solana distributes roughly $1.8 million worth of SOL daily while only capturing a fraction in fees at approximately $40,000. […]
Ethereum is the primary cryptocurrency benefiting from the DeFi trend. And while a rising tide lifts all boats, the demand for the top-ranked altcoin is second-to-none. And while Ethereum is dominating the crypto market right now, its DeFi that is dominating the headlines in the media, not the altcoin that makes it all possible. DeFi […]
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....
Arthur Hayes, co-founder of crypto exchange BitMEX, has predicted that the blockchain Aptos (APT) is poised to surpass Solana (SOL) in prominence and utility in the race for the second largest Layer 1 (L1) blockchain behind Ethereum within the next two to three years. Hayes conveyed his thoughts during a detailed interview with macro analyst Raoul Pal. Aptos Could Overtake Solana Hayes indicated that the potential for Aptos to outperform Solana and ascend as the second-ranking L1 protocol after Ethereum is significant, but did not delve into the specific catalysts behind his assertion....