Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Solana Forum => Topic started by: Trumpet on June 25, 2021, 09:42:47 PM
-
SOL, the native token of the Solana blockchain, has seen some impressive growth since Tuesday’s crash, soaring by more than 18.31% since then.
The coin has slightly backtracked since then, but is still up by nearly 5% over the past 24 hours, according to data from CoinGecko.
There’s still some uncertainty in the overall crypto market, however, Bitcoin has again briefly touched $35,000 on Friday morning, going up by almost 4%. Several altcoins, including Dogecoin, have seen even bigger gains of over 10%.
One key driver behind SOL's return has been Thursday’s launch of tokenized stocks on the Solana blockchain, rolled out by Swiss-based firm Digital Asset AG.
Tokenized stocks of more than 50 public companies, including Facebook, Google, Netflix, Nvidia, PayPal, Square, and Tesla, are currently available only on the cryptocurrency exchange FTX. However, they can also be transferred to both centralized and decentralized exchanges built on the Solana blockchain.
Tesla, Facebook, Google Stocks Launch on the Solana Blockchain
Solana developments front and center
Launched on mainnet in May 2020, Solana has been often touted as an “Ethereum killer” as its proof-of-stake blockchain claims to be capable of processing 50,000 transactions per second (TPS) at peak load.
This far outpaces Ethereum’s average of between 10 and 15 TPS, or Bitcoin’s average of between five and seven, making Solana a strong contender for being a platform of choice for developers working on decentralized applications (dApps).
Though decentralized finance (DeFi) has been a key focus for Solana, its functionality extends to other sectors. With the recent launch of Metaplex, a Solana-based open-source protocol and a marketplace for non-fungible tokens (NFTs), the network will now host various crypto artworks and digital collectibles.
Earlier this month, Solana Labs, which develops the blockchain, raised $314 million from heavyweights like Polychain Capital, Andreessen Horowitz, CoinShares, and Alameda Research to continue building out the network.
These developments and a broader recovery in the crypto markets are just a few of the reasons behind SOL’s latest rise.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.source (https://decrypt.co/74494/solana-mounts-bullish-recovery-crypto-markets-rebound/)
-
Solana was able to recover quickly because Solana has something called a system change which is owned by the #DevelopmentTeam from Solana and Solana is very fast in adopting a new ecosystem in the world of cryptocurrency.
I am also very impressed with Solana because Solana is able to compete with various cryptocurrencies that have been circulating in the market for a long time, such as EThereum, BCH, Ripple and EOS.
-
If we look at the #DevelopmentTeam of the Solana coin, it is indeed very solid, especially Anatoly Yakovenko who became a pioneer for the advancement of the Solana coin and this is truly something that is extraordinary, from a development point of view it is also extraordinary because it is so very fast to create a new platform in the world. under the blockchain of the Solana coin.
So, it's only natural when the market dumps that the Solana coin goes up so fast, this factor is seen from what I said, namely the development and ecosystem of the Solana coin is really very fast.
-
Good advice!!! Thanks!!
-
It is certain that Solana coins can be the best because Solana coins are really a wise choice for all investors.
Solana is really very capable of being able to continue to reveal himself to be the best because this Solana coin is really amazing with the various abilities it has on all platforms.
I am also sure that the price increase of the Solana coin is because it is able to attract various investors to be in the cryptocurrency space and to be more precise on the blockchain of the Solana coin.
-
Solana must be able to follow the market because the market for this cryptocurrency is dominated by Bitcoin.
Solana means that you have to be able to follow the price of Bitcoin because Bitcoin is very dominant in the entire market.
If Bitcoin goes up again with a usper acceleration mode, Solana must also be able to go back up so quickly because basically Solana always follows the price of Bitcoin.