The Ethereum killer popular crypto currency Solana, continued its mega bull run, which reached an all-time high of $250 earlier today. With this move, Solana, Cardano (NAME it has emerged as the fourth largest cryptocurrency with a market capitalization of $72.9 billion, knocking out top players such as).
Solana (LEFT) Does not stop! He Has Reached the New ATH
Solana, especially for the last three months, it has been in an unstoppable rally throughout the year. The price of SOL, which has increased 166-fold since the beginning of 2021 and is the best performer in the ecosystem altcoinhe appeared as one of the‘ With a staggering gain of 1600% so far this year, Solana has become one of the crypto currencies that has earned its investors a lot.
The Solana blockchain is popular for its ultra-fast transactions at an extremely low cost. Also, Ethereum the gas fee, which is increasing rapidly in the blockchain, is more DeFi he forced his actor to give preference to affordable solutions, such as Solana. DEFILLATIONaccording to data from, the total locked value of all DeFi protocols in Solana approached $ 15 billion.
It also occurs in the Solana ecosystem NFT its sales also grew rapidly. Well-known crypto analyst and investor Scott Melker, He explained the main reason behind Solana’s growth. Scott Melker gave the following statements in his statements;
“Solana is a real competitor to Ethereum with lightning-fast transactions well below the price. The rapid increase in value is largely the result of crypto games and successful NFT launches. Developers and projects have been building on Solana for many years, which manifests itself in a boom in price and adoption.”
Why is Solana Rising?
Increased gas fees, DeFi While there is a reason his players have moved to Solana, Solana has also witnessed a strong improvement on the spot. Solana blockchain, 710,000 transactions per second (TPS) has an output of.
The Solana blockchain is based on the existing Proof-of-Stake (PoS) along with the Proof of the Past (PoH) it improves this scalability by using the consensus model. In addition, the platform facilitates a wide range of decentralized applications (dApps), which was not possible before.
In the future, Solana’s Ethereumthere has been a lot of talk about what will overtake, but at the moment this seems very far-fetched. So much so that the Ethereum ecosystem is seven times the size of Solana. In addition, with the transition to Pos Ethereum 2.0, it will become even more difficult for Solana to compete.
LEFT Current Status
The Ethereum killer the popular cryptocurrency known as Solana (LEFT), which started a new uptrend late in the evening the other day. With this increase in Solana, the price has again updated its all-time high.
Solana it reached an all-time high of $250 last evening. But then there was a pullback in the price, and the price dropped to $ 240.
As of the moment the content was written LEFT, It continues to trade at the level of 242 dollars, an increase of 0.87% in the last 24 hours according to CoinMarketCap data.