This article is brought to you by the trading and copy trading platform PrimeXBT.
The week was marked by the new Bitcoin NOTE! As expected in a few days, Bitcoin has set a new record with $ 66,930. another hot news concerns Shiba Inu. His bull run placed Shiba Inu in the world’s top 20! But in the shadow of Bitcoin and Shiba Inu broke another crypto record this week! This is Solana!
What is Solana Crypto (SOL)?
Not familiar with the Solana crypto? The situation suggests that we will have to trust Solana in the future. So what is Crypto Solana (SOL) ?
First of all, you need to know that the Solana crypto needs to be compared to Ethereum, Cardano or even (lesser known) Algorand. Like its competitors, Solana is a network designed to accommodate decentralized applications (DeFi).
Another interesting feature to know is that Solana promotes communication between blockchains. This no longer needs to be demonstrated, the future belongs to the blockchain! But which blockchain (s)? A sector like DeFi, for example, is too large to operate on a single blockchain. It is also a sure bet that more blockchain technologies will win. The challenge then becomes to get them to communicate with each other.
The protocol developed by the Solana Network for this purpose is called ormehul. It allows to transfer tokens between blockchains. Recently, it is also possible to exchange NFTs between Ethereum and Solana blockchains. In other words, with Wormhole, Solana performs double duty by combining NFT (highly fluid) and interoperability.
Finally, the Solana network also shines with its performance in terms of managed transactions.
All these qualities make Solana very successful. Last year, Solana was very little known. But at the moment, its blockchain hosts more than 400 projects.
The Solana bull race and its 6th place in the world!
that The Solana crypto price is in unique momentum ! Over the last 60 days, the price of SOL has thus increased by more than 170%. This is the second-best performance among the world’s top 20 cryptocurrencies. Only the Shiba Inu crypto performs better by more than 380% in the last 60 days!
With such a bull run, it is not surprising to see the Solana crypto progress in terms of capitalization. Thus, Friday, October 22, 2021, The Solana crypto has become the 6th crypto in the world. With more than $ 50 billion in market value, SOL has moved ahead of crypto-Ripple.
From now on, Solana has the stable coin in the binoculars Tether ($ 59 billion). But above all, Solana makes a good finish with a direct competitor, the Cardano (ADA). Slightly “tanked” for several weeks, the capitalization of Cardano is no longer progressing too much. That’s about $ 60 billion. Now the difference in capitalization between the two cryptocurrencies is therefore less than $ 10 billion.
Does this difference seem high? It’s not that much in reality! In percentage terms, the capitalization of Cardano is 10% higher than Solana’s. In other words, it’s enough for the price of Solana to take 10 points more than Cardano’s price to move on ! And when you know the differences in dynamics at the moment between the two cryptocurrencies, it can happen quickly!
What can you expect for the Solana Award in 2022?
Despite a positive situation, many cryptocurrencies have not yet regained their pre-crash level. In fact, we all remember the sudden drop in prices in May 2021. Solana ATH is newer and dates from September 9, 2021 with a price of $ 214.96. But it is not only a matter of time before Solana breaks a new record.
In fact, at the time of writing this article, the price of Solana is $ 195.89. It would therefore be sufficient 10% increase to reach a new HUD ! Therefore, with the speed that Solana is going at, it can go very fast! For example, over the last 7 days you should know that the price of Solana has increased by 24%.
What are Solana’s predictions for 2022? Most analysts agree Solana will continue to rise. On average, the projections predict a course of Solana in 2022 inclusive between $ 300 and $ 600. The most optimistic forecasts issue a price target of $ 1,300!
Solana is truly one of the “surprise” cryptos of 2021! In addition, its current dynamics were still to speak of Solana at the end of the year. An increase of only 10% would be enough for Solana to overtake Cardano and reach a new NOTE! What if Solana became the 4th crypto in the world at the end of 2021?