Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Solana Forum => Topic started by: RSRS on September 03, 2021, 04:01:40 PM
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Solana (SOL) started Sep. 3 at a new record high as investors continued to bet positively on its success in the decentralized finance (DeFi) and nonfungible tokens (NFT) sector.
The SOL/USD exchange rate reached $146.28 for the first time in history, following a circa 35% month-to-date rally. The huge upside move lifted the pair's returns for the year above 7,500%, taking Solana's market capitalization over $41 billion to make it the seventh most valuable project in the cryptocurrency space.
Solana's run-up to record highs also brought overvaluation risks in focus, with a classic momentum indicator, the relative strength index (RSI), returning an overbought reading for the cryptocurrency. Above 70, the RSI suggested that SOL/USD could undergo a sell-off in the coming sessions, and that opening a long position on the pair could prove risky.
More Information (https://cryptonews.net/en/news/defi/1672931/)
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Solana is indeed extraordinary because it has such a rapid coin development like the Binance Smart Chain and what makes it different is that Binance has a phenomenal CEO, CZ and Solana, I don't know much about it.
I'm sure Solana will give a different color in the future because the way Solana works is PoH or Proof of History which is different from other coins.
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In cryptocurrencies, the 70% price increase is very easy because the cryptocurrency is not centralized and everyone can determine the price easily, resulting in very fast price changes.
I saw this thread that the Solana coin went up 70% in 1 week, it's very easy and simple if Solana will continue to be able to exceed that and even in cryptocurrency overnight it can reach hundreds of percent for its price increase.
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I think this is due to the fact that more and more projects are switching to the blockchain network of this project, and I also love this network more, it is faster and much cheaper
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Solana offers great TPS, speed of transaction and low costs which are fundamental prerequisites for success in crypto space. If to speculate what in your opinion price level SOL can reach in this bitcoin halving cycle
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Solana is very able to exceed the price increase of more than 70% because Solana has super power in coin development, as now there are many Solana airdrops and of course if this airdrop usually requires GAS for token delivery.
After needing GAS, all participants will buy Solana which is already circulating in the market and of course the price of Solana can rise very quickly and this is a pure ecosystem.
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I will bet on Solana to hit unprecedented All time high consistently within a short periods even within 30 days intervals. This token is a germ token with a large numbers of community support globally. Solana will continue to create new records for as long as bitcoin maintain some stability on the current bull run( November,December 2021/January 2022). I think Solana may touch $400 at the end of 2021 or early 2022. Let watch!
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I think Solana will go up but of course need work together with game, sport and economic platform, do it alone will create minimum target. Solana more popular right now and ( please ) no need to change network but up grade system become more safe is better. Most people interesting with volatility for reward and me safety and stable is better option.
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Currently solana is sitting pretty as the 4th crypto with transactions higher than bsc and more project coming in. Solana is currently selling at 245 and will hit 500 before December. When the full altcoin markets kick starts. I believe it is a gradual process and with time will out grown bsc and matic.