Solana

What Happen to... Solana? | And Why Cryptos Like Crypto.com Take The Spotlight of Solana

By Joao16 | What Happen to...? | 25 Jan 2022


What is Solana(SOL)?

Solana is a crypto-computing platform that aims to achieve high transaction speeds without sacrificing decentralization. Like Ethereum, Solana is both a cryptocurrency and a flexible platform for running decentralized apps (dapps) — everything from Degenerate Apes to the Serum decentralized exchange (or DEX). Its major innovation is speed, via a bundle of new technologies including a consensus mechanism called proof of history (PoH). Solana can process around 50,000 transactions per second — compared to 15 or less for Ethereum.

 

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But, What happens to Solana? Why is losing its value since November 2021?

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From July to November in 2021 Solana exploded gaining 1100% going from 21$ to 260$, but since then the value of this project is decreasing. This decrease is due to a lot of reasons:

 

  • Other Cryptos -> Solana is not the only one on the market and because of that people start going to other cryptos that are having a better performance, in this case Crypto.com and Fantom were and still are two of the cryptos that take away the spotlight of Solana. Daily transactions on $FTM have overtaken $ETH!

  • Also Bitcoin -> When BTC drops 50%, Altcoin suffers much more than that and Solana was no exception on this one.

  • Correction -> There is no crypto that goes up forever and Solana finaly could breathe after 3 months of Uptrends.

 

Why I still believe in this Project:

 

  • 1. I believe that NFT's in the next bull market is going to explode even more, because of that Solana is going to be used even more which is gonna increase its value.

  • 2. The second reason is the most important for me. Solana has overtaken ETH by much and the only hope for ethereum to try to respond to solana is the ETH2.0 update, if that happens maybe solana could lose some popularity to ETH again but if something goes wrong Solana will be the crypto that is going to take ETH out of the equasion.

  • 3. Their Fundaments.

 

 

What We Should Expect From the Future?

 

  • Solana has already dropped 70% of his ATH I would not be surprised if SOL goes to 75 dollars again, But right now both BTC and SOL are in big supports and even if they go lower i am expecting to have a pullback to higher prices.

  • I don't really think NFT's are done yet and the next bull market could be their year, which means SOL will have a little help increasing its value.

  • Finally, I think in 3 to 4 years we will be more integrated into the Digital Era and because of that, a fatest network is going to be needed so peolpe don't hape to pay milions to make a transaction and SOL is going to be one of the ways to do it.

 

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Joao16
Joao16

A simple guy that writes about everything


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