Experts say that Solana is becoming Ethereum’s strongest competitor and may well surpass the second cryptocurrency in terms of capitalization. At the same time, in the future, the Solana network is able to distance itself from Ethereum in order to emphasize its advantages – fast transaction processing speed and scalability.
Currently, the total amount of funds blocked in projects based on the Solana blockchain is $378. Since the beginning of the year, the rate of the SOL coin has increased by 200% and the cryptocurrency is now trading at $32. However, according to analysts at VanEck, there could be some pullback in SOL in the near future and the coin could fall below $30.
In early October, Solana Labs developers deployed update 1.16, which introduced support for confidential transactions.
Previously, VanEck analysts said that by 2030 ether will reach a price of $11,850, and in the best case it could cost $51,000. The new report talks about $13,000 per ETH coin.
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.