Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Solana Forum => Topic started by: MrSpasybo on January 04, 2024, 06:30:47 PM
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Solana's impressive growth trajectory continues to amaze me as the network has now surpassed Ethereum and Tron in stablecoin volume performance.
According to the latest Google Search Traffic report, Solana has topped Ethereum based on stablecoin volume.
Solana-based USDC has now become the most transacted stablecoin. The stablecoin registered a whopping $103 billion worth of transfers on Solana.
As per the report, Ethereum followed Solana with $90.9 billion, with Tron coming in third with $82.3 billion. BNB Chain was fourth on the list with $14.6 billion.
>> Solana Surpasses Ethereum and TRON in Stablecoin Volume Performance (https://coinmarketcap.com/community/articles/659541b6d1b9864bc8638662/)
I think this surge in Solana's stablecoin volume is attributed to various factors: network's speed, scalability, and low transaction fees. Solana became an attractive platform for stablecoin usage, particularly in DeFi applications.
This achievement highlights Solana's potential to challenge Ethereum's dominance in the broader crypto ecosystem. Solana's ascendency in the stablecoin space further strengthens its position as a prominent blockchain contender and Solana is poised for further success in 2024. Coupled with the fact that investment funds pour more money into Solana than Ethereum, I even believe that Solana cap can surpass Ethereum cap by 2025. Currently, Solana is much superior to Ethereum in both speed and money flow.
Do you think this is an important event marking the rise of Solana to once again compete in the #2 with Ethereum?
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Ethereum $312,385,013,407
Solana $42,707,140,686
Above is the difference between the Ethereum and Solana coin marketcaps, I took these values from Coinmarketcap as of January 12, 2024.
The value of the Solana coin is so much money to be able to overtake or approach the Ethereum coin and we can calculate it 312:42 = 7.4, and this value means that Solana must increase its market cap by more than 740%.
Maybe my calculations are wrong because I'm not good at counting, but judging from the total market cap, the Solana coin is very, very far from being able to approach Ethereum at this time.
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Ethereum $312,385,013,407
Solana $42,707,140,686
Above is the difference between the Ethereum and Solana coin marketcaps, I took these values from Coinmarketcap as of January 12, 2024.
The value of the Solana coin is so much money to be able to overtake or approach the Ethereum coin and we can calculate it 312:42 = 7.4, and this value means that Solana must increase its market cap by more than 740%.
Maybe my calculations are wrong because I'm not good at counting, but judging from the total market cap, the Solana coin is very, very far from being able to approach Ethereum at this time.
Yeah, in the short term, it is very difficult for SOL to surpass ETH in terms of capitalization, but I still expect fierce competition between them in 2025. That will create excitement in the market and we will see a hot altseason. I believe that something huge is being planned behind Solana, institutional money pouring into SOL is already greater than pouring into ETH in 2023!
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Yeah, in the short term, it is very difficult for SOL to surpass ETH in terms of capitalization, but I still expect fierce competition between them in 2025. That will create excitement in the market and we will see a hot altseason. I believe that something huge is being planned behind Solana, institutional money pouring into SOL is already greater than pouring into ETH in 2023!
Solana has good team behind their project, I agree with you I don't think solana will surpass Ethereum in short term.
But It might be happen at the coming future.
Because we all see Solana has shown good performance.
I have buy more solana again and will hold until next year.
Solana ever touched $ 260 ATH, I think It will hit again next year.
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Yeah, in the short term, it is very difficult for SOL to surpass ETH in terms of capitalization, but I still expect fierce competition between them in 2025. That will create excitement in the market and we will see a hot altseason. I believe that something huge is being planned behind Solana, institutional money pouring into SOL is already greater than pouring into ETH in 2023!
Solana has good team behind their project, I agree with you I don't think solana will surpass Ethereum in short term.
But It might be happen at the coming future.
Because we all see Solana has shown good performance.
I have buy more solana again and will hold until next year.
Solana ever touched $ 260 ATH, I think It will hit again next year.
Solana have been one of the projects that have surprised people recently and have shown a great potential to surpass lots of coins but I doubt if it can surpass Ethereum in a short time too, maybe in the future it can but not anytime soon. Both projects have a very good team behind them and Ethereum have even been predicted to surpass btc in the past because of it’s potential. Let’s just enjoy the positivity of Solana and witness it surpass it’s ATH and set a new ATH.
I am accumulating more Solana than the usual getting ready for it to bloom again.
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Solana has good team behind their project, I agree with you I don't think solana will surpass Ethereum in short term.
But It might be happen at the coming future.
Because we all see Solana has shown good performance.
I have buy more solana again and will hold until next year.
Solana ever touched $ 260 ATH, I think It will hit again next year.
From what I see, the market is very FOMO with Solana, SOL's TVL increased 500% from the bottom[1], many KOLs are also optimistic when predicting SOL token price in the coming cycle[2].
If Solana continues to grow as well as it has, we can expect interesting competition in 2025. Solana's potential is still huge without the need for scaling solutions like Ethereum, everything are all ready for Devs and users coming to Solana.
[1] DefiLlama: Solana (https://defillama.com/chain/Solana)
[2] Crypto Analyst Says A Solana Price Will Climb To $750, Here’s When (https://www.newsbtc.com/news/solana/solana-price-will-climb-to-750/)
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Solona coin has gained the kind of popularity it currently has. And with the way its market has gone up, hopefully it will be able to overtake Ethereum in the future. It may have a fairly good period of time but at the end of the day I think Solona Coin will continue to move higher. I have a completely positive opinion about this coin. Those who want to invest and hold on to this coin can do so. Expect it to increase in future.
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Solona coin has gained the kind of popularity it currently has. And with the way its market has gone up, hopefully it will be able to overtake Ethereum in the future. It may have a fairly good period of time but at the end of the day I think Solona Coin will continue to move higher. I have a completely positive opinion about this coin. Those who want to invest and hold on to this coin can do so. Expect it to increase in future.
As we discussed above, the possibility of SOL surpassing ETH in capitalization in cycle 2024 is very small. To do that, the SOL price must increase dramatically while Ethereum has some extremely bad problem with the ongoing DenCun update and causes the ETH price to return to the bottom again. From personal experience, I don't expect this.
But Solana can absolutely be mentioned in this cycle as a project that chases Ethereum and competes fairly with Ethereum in terms of capital flow, Dapps and users thanks to its high speed and low transaction fees. I am a fan of both blockchains so I will be cheering for both Ethereum and Solana 💪💪💪
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Have they fixed their stability issues? If I remember correctly their network was stopped multiple times through 2023, which is arguably the most annoying about SOL blockchain. It is hard to compete with Ethereum if the network can go down without notice for hours. If they can last the whole of 2024 without any halt, maybe we can be more optimistic about their price action. I do agree that it is not too bad to use it for DeFi activity compared to ETH though (USDC is what I transacted the most), and it is way cheaper as far as my experience goes.
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Have they fixed their stability issues? If I remember correctly their network was stopped multiple times through 2023, which is arguably the most annoying about SOL blockchain. It is hard to compete with Ethereum if the network can go down without notice for hours. If they can last the whole of 2024 without any halt, maybe we can be more optimistic about their price action. I do agree that it is not too bad to use it for DeFi activity compared to ETH though (USDC is what I transacted the most), and it is way cheaper as far as my experience goes.
Compared to 2021 and 2022, the Solana network is more stable and for quite a while I have not heard of any problems occurring and causing users to have trouble and not be able to use Solana for many hours. Crypto winter was a bad time for the SOL token price but it was great for development because Devs could focus on blockchain development and fixing remaining silly bugs 😁
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Solana is used to support hotspot gear. So there is a linkage to POW. and hotspot gear actually does act like pow with its older HNT token and its newer IOT token. I see Solana doing okay long term.
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Solana is used to support hotspot gear. So there is a linkage to POW. and hotspot gear actually does act like pow with its older HNT token and its newer IOT token. I see Solana doing okay long term.
Maybe you want to talk about Helium project's HNT token which is very famous in the DePIN sector. Helium operates on the Solana blockchain but I think HNT is the payment method in the Helium network.
And I don't think HNT is a stablecoin on Solana, it's a utility token in a decentralized network of hotpots.
HNT Usage: HNT serves the needs of the two primary parties in the Helium Ecosystem:
- Hotspot Hosts and Operators. Hosts are rewarded in network tokens like IOT or MOBILE while deploying and maintaining network coverage. These network tokens are redeemable for HNT.
- Enterprises and Developers use the Helium Network to connect devices and build IoT applications. Data Credits, which are a $USD-pegged utility token derived from HNT, are used to pay transaction fees for wireless data transmissions on the Network[1].
[1] The Helium Network Token (https://docs.helium.com/tokens/hnt-token/)
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Ethereum $312,385,013,407
Solana $42,707,140,686
I always aid that market cap is largely irrelevant, there are coins in the top 5 that have a complete fake MC, low liquidity, no transaction volume whatsoever, just people holding their coins for dear life with expectation they will get rich in the next pump.
BNB has a 1/100 ratio of daily volume vs MC, USDT 1 to 4.
Besides, why would one care about the marketcap at all, for example Monero could grow x100, it won't be able to beat Bitcoin if this one does only x2, but for an investor, what would be more important, the market cap or the returns?
Have they fixed their stability issues? If I remember correctly their network was stopped multiple times through 2023, which is arguably the most annoying about SOL blockchain. It is hard to compete with Ethereum if the network can go down without notice for hours. If they can last the whole of 2024 without any halt, maybe we can be more optimistic about their price action.
The biggest problem is the centralization of validators, multiple time in the past the causes for the halt have been validators, and another alarming move was the Heizer blockade which took down like 30% of them in a flash. It would be interesting to see how it actually scales, it has an insane number of transactions per day but it has low usage in address count compared to that which helps their model of pruned chains
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The biggest problem is the centralization of validators, multiple time in the past the causes for the halt have been validators, and another alarming move was the Heizer blockade which took down like 30% of them in a flash. It would be interesting to see how it actually scales, it has an insane number of transactions per day but it has low usage in address count compared to that which helps their model of pruned chains
Although it is very fast and meets user needs, the problem of Solana blockchain lies in stability. We have witnessed Solana's 11th outage and cannot predict when the 12th will occur. PoH is really new and has many issues that need to be improved by the Solana team.
I am a positive thinker, so I hope that the Solana team with the best people in this market can handle dangerous errors on the Solana network this year to ensure that we won't have any more major problems at the hottest point of the bullrun in 2025.
Solana has cooperated with Filecoin to improve the quality of infrastructure[1], I think the Solana team is also working on core blockchain development.
[1] Solana cooperates with Filecoin: the Solana blockchain will be more stable? (https://www.altcoinstalks.com/index.php?topic=317903.0)
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Although it is very fast and meets user needs, the problem of Solana blockchain lies in stability. We have witnessed Solana's 11th outage and cannot predict when the 12th will occur. PoH is really new and has many issues that need to be improved by the Solana team.
The problem is the validators, you can't just have it all, you have to trade things and Solana validators are both the reasons for the speed and easiness of propagations but also the Achille's heel when they fail. There is basically no redundancy there, if one major network goes down so do like 1/3 of the validators and it just stops and things will just keep being the same, it's simply impossible for Solana to go to a completely decentralized model where everyone runs it's node, not while asking for 256Ram and 10Gbit upload.
Anyhow, technicalities won't matter for the price, nowadays nobody gives a damn, there have been coins that have suffered 51% attacks and 6 hours of chain re-orgs and are still alive.
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The problem is the validators, you can't just have it all, you have to trade things and Solana validators are both the reasons for the speed and easiness of propagations but also the Achille's heel when they fail. There is basically no redundancy there, if one major network goes down so do like 1/3 of the validators and it just stops and things will just keep being the same, it's simply impossible for Solana to go to a completely decentralized model where everyone runs it's node, not while asking for 256Ram and 10Gbit upload.
Anyhow, technicalities won't matter for the price, nowadays nobody gives a damn, there have been coins that have suffered 51% attacks and 6 hours of chain re-orgs and are still alive.
We have all seen that when investors are FOMO and extremely greedy, all blockchain problems can be easily overlooked, as long as price movements are very positive and promise great profitability. SOL could be such a case: PoH continues to have problems but SOL token price chart is still very attractive for investment purposes and generating profits.
Anyway, I still hope that the Solana team is focusing on fixing bugs and soon having an important update to improve network quality.
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Yeah I am hoping for it to become stable with no outages.
For newer people BTC once did an unplanned false fork. Took a while to fix it.
Also Eth had to roll back it chain that rollback caused a hard fork with eth and etc .
I also lost two as I was unable to get my mac based wallet to synch correctly with the fix they did.
So I never respected Eth since.
Shout out to mr v pay me my 2 eth.
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Yeah I am hoping for it to become stable with no outages.
For newer people BTC once did an unplanned false fork. Took a while to fix it.
Also Eth had to roll back it chain that rollback caused a hard fork with eth and etc .
The god part is that Solana can't really fork the way Bitcoin and Eth have.
Interesting Solana forks quite often, it's the norm, but it's by design as new blocks are not validated in the same order by all validators before being added, so you can have different blocks chained to a parent and same blocks chained to those two, the leader of each session will chose the path.
And here came a problem (solved in theory) if none of the forks got 66% the chained stopped the leader can't execute the votes, nothing is broadcasted to the cluster, new cycle can't be started, this was the cause of the first few halts between other reasons.
But in theory at least the fork management is pretty neat
https://docs.solanalabs.com/consensus/managing-forks
...when it works..
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Yeah I am hoping for it to become stable with no outages.
For newer people BTC once did an unplanned false fork. Took a while to fix it.
Also Eth had to roll back it chain that rollback caused a hard fork with eth and etc .
I also lost two as I was unable to get my mac based wallet to synch correctly with the fix they did.
So I never respected Eth since.
Shout out to mr v pay me my 2 eth.
I believe the Solana team also understands: stability is as important as high speed and low fees. Devs quickly fixed the bug and will update soon, I don't think we will have Solana folk like Solana Classic. Usually forks come from community disagreement about block size, consensus protocol, or bad historical abandonment. Solana does not pose any potential dangers, so we can continue to rest assured!
The god part is that Solana can't really fork the way Bitcoin and Eth have.
Interesting Solana forks quite often, it's the norm, but it's by design as new blocks are not validated in the same order by all validators before being added, so you can have different blocks chained to a parent and same blocks chained to those two, the leader of each session will chose the path.
And here came a problem (solved in theory) if none of the forks got 66% the chained stopped the leader can't execute the votes, nothing is broadcasted to the cluster, new cycle can't be started, this was the cause of the first few halts between other reasons.
But in theory at least the fork management is pretty neat
https://docs.solanalabs.com/consensus/managing-forks
...when it works..
Solana fork management has worked quite effectively, enough that the Solana community is not divided in vision or interests in the ecosystem. I don't have a deep understanding of the technology in Solana's PoH, I just continue to believe in what Solana has been doing.
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Solana's development has been extraordinary. This coin not only proves that SOL is really worth it for investment. but the development of the project is really fast. Not only that, Solana has also proven that its network and platform can truly compete significantly with its predecessors.
So, there is no doubt that Solana will continue much higher
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I just went to my helium wallet and swapped some EARNed IOT for more Solana.
I will add a little solana over and over by cashing my IOT into Solana.
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Solana's development has been extraordinary. This coin not only proves that SOL is really worth it for investment. but the development of the project is really fast. Not only that, Solana has also proven that its network and platform can truly compete significantly with its predecessors.
So, there is no doubt that Solana will continue much higher
I am also continuing to monitor the development of the Solana ecosystem and hope that Solana will continue to maintain its excitement. Currently Layer-2 projects on Ethereum are attracting the attention of the media, users and investors, they can gain users from Solana, I think Solana will need to do more to affirm its irreplaceable position in the blockchain and crypto market.
My expectation is that Solana will continue to be the platform with the most vibrant stable coin-related activities in the market. Wherever there is cash flow, there will be development ;D
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I just went to my helium wallet and swapped some EARNed IOT for more Solana.
I will add a little solana over and over by cashing my IOT into Solana.
Wow, it looks like you have found a treasure that has been stored for a long time and currently the price is very high for Solana. My suggestion is that maybe if you are in need of money then you can sell the Solana resulting from exchanging some IOT. After that, save the remaining Solana for the future because you don't will know that Solana could reach a very expensive price someday.
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Wow, it looks like you have found a treasure that has been stored for a long time and currently the price is very high for Solana. My suggestion is that maybe if you are in need of money then you can sell the Solana resulting from exchanging some IOT. After that, save the remaining Solana for the future because you don't will know that Solana could reach a very expensive price someday.
Helium IOT token price has been x10 from the bottom price, which is really attractive, but its price increase performance is not superior to Solana, x18 from the bottom price. I don't dare give anyone investment advice, but choosing to store assets in the native token of a large blockchain like Solana is a safer decision than continuing to hold the token of a small project.
May the SOL token price continue to increase, soon create a new ATH and bring huge profits to those who have chosen to continue to believe in Solana ;)
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Solana's development has been extraordinary. This coin not only proves that SOL is really worth it for investment. but the development of the project is really fast. Not only that, Solana has also proven that its network and platform can truly compete significantly with its predecessors.
So, there is no doubt that Solana will continue much higher
The way Solana tech was model even before it surge in the last bull run, you will want to agreed with me that they are the best in term of speed, everything around Solana has been about speed but ever since the last incident, despite the price recovery there hasn't been much liquidity like before. You can't sell millions of Solana in this market without affecting the price and the network has been unstable that even Binance had to pause their withdrawal on Solana chains.
There has been a motion by some venture capital trying to buy back the Solana under FTX which is a good news for people that has theirs trapped in the exchange but it will be subjected to 4 years locked which means people would have access to their coins now. SBF really destroyed a lot of dreams you know.
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I just went to my helium wallet and swapped some EARNed IOT for more Solana.
I will add a little solana over and over by cashing my IOT into Solana.
Wow, it looks like you have found a treasure that has been stored for a long time and currently the price is very high for Solana. My suggestion is that maybe if you are in need of money then you can sell the Solana resulting from exchanging some IOT. After that, save the remaining Solana for the future because you don't will know that Solana could reach a very expensive price someday.
i am still adding to my solana. going to hold it longer.
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I just went to my helium wallet and swapped some EARNed IOT for more Solana.
I will add a little solana over and over by cashing my IOT into Solana.
Wow, it looks like you have found a treasure that has been stored for a long time and currently the price is very high for Solana. My suggestion is that maybe if you are in need of money then you can sell the Solana resulting from exchanging some IOT. After that, save the remaining Solana for the future because you don't will know that Solana could reach a very expensive price someday.
Solana seems very suitable to hold for the long term besides bitcoin, ethereum and BNB. I have solana in my wallet, and it will last until next year's bull run. Currently I'm also still hunting for some potential coin coins.
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Solana seems very suitable to hold for the long term besides bitcoin, ethereum and BNB. I have solana in my wallet, and it will last until next year's bull run. Currently I'm also still hunting for some potential coin coins.
Yeah, it would be good if we realized this sooner when the SOL price is in the $8-10 range in 2022 and gets a lot of profits now.
Now SOL is in the top 4 on coinmarketcap, excluding stable coins: BTC - ETH - BNB - SOL, SOL deserves to be chosen for long-term investment purposes. The strong development of the Solana ecosystem also helps us have more confidence in the potential price increase of SOL tokens in the future.