Crypto

Forget Shiba Inu, Solana becomes the 6th crypto in the world!

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The week was marked by the new Bitcoin ATH! As expected for a few days, Bitcoin has set a new record at $ 66,930. Another hot news is about the Shiba Inu. His bullfight made it possible to place the Shiba Inu among the top 20 in the world! But in the shadow of Bitcoin and Shiba Inu, another crypto broke a record this week! This is the Solana!

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What is Solana (SOL) cryptography?

New to Solana crypto? The economic situation seems to indicate that we will have to depend on Solana in the future. So what is Solana (SOL) crypto?

First of all, you need to know that the Solana crypto has 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 is no longer going to be proven, the future belongs to the blockchain! But what blockchain (s)? A sector like DeFi is, for example, too big to operate a single blockchain. Furthermore, it is a safe bet that various blockchain technologies will prevail. So the challenge will be to get them to communicate with each other.

The protocol developed by the Solana network for this purpose is called Wormhole. Allows tokens to be transferred between blockchains. Recently, it has also been possible to trade NFT between the Ethereum and Solana blockchains. In other words, with Wormhole, Solana does double duty by combining NFT (very optimistic) and interoperability.

Finally, the Solana network also stands out for its performance in terms of managed transactions.

All these features make the Solana very successful. Little was known about the Solana last year. However, at present, its blockchain houses more than 400 projects.

Solana’s confinement and her sixth place in the world!

The course of Solana crypto is in exceptional dynamics! Thus, during the last 60 days, the price of SOL has increased by more than 170%. This is the second best performance among the top 20 cryptocurrencies in the world. Only Shiba Inu crypto is doing better with over 380% in the last 60 days!

Source: Adobe / zenzen

With such a bull run, it’s no wonder the Solana crypto is making progress in terms of capitalization. Thus, on Friday, October 22, 2021, the Solana crypto became the sixth crypto in the world. With over $ 50 billion in capitalization, SOL has surpassed Crypto Ripple.

Now, Solana has her sights set on the Tether stablecoin ($ 59 billion). But above all, the Solana made a good close with a direct competitor, the Cardano (ADA). Somewhat “stunted” for several weeks, Cardano’s capitalization does not advance much. They are around $ 60 billion. Now the capitalization gap between the two cryptocurrencies is therefore less than $ 10 billion.

Does this gap seem high? Not so much actually! In percentage, Cardano’s capitalization is 10% higher than Solana’s. In other words, it is enough that Solana’s price takes 10 points more than Cardano’s to pass! And when we know the differences in terms of dynamics right now between the two cryptocurrencies, it could happen quickly!

What to expect from the Solana course in 2022?

Despite positive economic conditions, many cryptocurrencies have yet to regain their pre-crash level. We all remember the sudden price drop in May 2021. Solana’s ATH is recent and dates from September 9, 2021 with a price of $ 214.96. But it’s only a matter of time before Solana breaks a new record.

Source: Adobe / RedVector

In fact, at the time of writing, Solana is priced at $ 195.89. Therefore, a 10% increase would be enough to reach a new ATH! At the rate Solana is going, therefore, it can go very fast! For example, in 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 that the Solana will continue to rise. On average, projections predict a Solana price in 2022 of between $ 300 and $ 600. The most optimistic predictions are setting a price target of $ 1,300!

Solana is truly one of the “surprise” cryptocurrencies in 2021! In addition, their current dynamics at Solana should still be discussed at the end of the year. An increase of just 10% would be enough for the Solana to overtake the Cardano and reach a new ATH! What if Solana became the fourth largest crypto in the world by the end of 2021?

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