Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Solana Forum => Topic started by: Tanimariya on October 26, 2021, 06:01:31 AM
-
Momentum has been building after bitcoin hit an all-time high last week. Prices for Solana’s SOL tokens hit a record high during early U.S. trading hours on Monday, one of the majority of tokens native to layer 1 blockchains that followed bitcoin higher.
Layer 1 is the base layer, the main network on which a cryptocurrency, such as bitcoin, runs. Bitcoin’s price hit a record high last week. Source Link
(https://www.coindesk.com/markets/2021/10/25/solana-hits-new-record-high-as-layer-1-tokens-follow-bitcoins-gains/)
-
It's great to see a new ATH for solana, specially in current time when most of the investors are looking for layer2 solutions or zk rollup model for innovation. Also, solana hype isn't finished yet as market is rebounded from dip and on the way to make a new milestone in the upcoming days. So expecting to see more higher price for new ATH of Solana. ;)
-
This Solana if in its development is capable of creating multiple layers and even this Solana already has a stable USDT coin on the Solana network and this is truly an extraordinary ability of the Solana coin.
With the various layers on Solana's coins, it is really very easy for Solana to reach All Time High and it is certain that behind all of that Solana has a great #DevelopmentTeam .
-
So far, the Solana coin has made several All Time Highs, which is a perfect achievement for the Solana coin, when compared to Bitcoin, the price increase is really slow because Bitcoin may have an expensive price.
It is also possible that Solana will follow the price of Bitcoin which is usually pumped when it is nearing the Halving and this Solana should not be sold cheaply because Solana is the main coin that will be very useful in the future.
-
Honestly I was surprised to see the price of Solana reach $200, because this situation was very fast, I just bought 10 SOL at $36 and let it be exchanged, after I came back the price increased, there are many new projects that are driving the demand for SOL coins, so until now the price will continue increased and I hope to reach $1k
-
I think today projects such as Solana do not match Bitcoin because this is a new niche and if you pay attention, you can notice that when Bitcoin and the entire market falls, this project becomes even more expensive
-
As far as I know Layer 1 is a coin that stands for itself like Bitcoin, Monero and Litecoin.
As for Layer 2, it is a coin that can create coins similar to those on the target coin blockchain such as Ethereum with erc20 which is open to eBTC etc.
Solana is a coin that has Layer 2 because it is able to make eBTC on the Solana coin network, along with other coins such as Ethereum, BNB or stable coins.
And record high prices were created by all the communities that continue to support the Solana coin. Extraordinary !
-
Solana has proven that he is indeed worthy to compete with various coins that are already on the market because I believe that Solana is also able to compete with Cardano, Pokadot, BNB and Ethereum.
Solana has had a very beautiful time, where Solana continues to collect the best solutions for the cryptocurrency market with an ecosystem that continues to criss-cross so that this Solana coin becomes a coin that has motivation that is truly worthy of being imitated by the coin to be created.
-
As far as I know Layer 1 is a coin that stands for itself like Bitcoin, Monero and Litecoin.
As for Layer 2, it is a coin that can create coins similar to those on the target coin blockchain such as Ethereum with erc20 which is open to eBTC etc.
Layer 1 doesn't mean to be a smart contract solution provider, but it's meant to have the own blockchain rather than using/integrating other chain. For example, BSC or polygon is using EVM (Ethereum Virtual Machine) chain and those can be called layer 2.
For more details, check this two article from Gemini and ethereum.
Gemini: https://www.gemini.com/cryptopedia/blockchain-layer-2-network-layer-1-network#section-layer-1-scaling-solutions
Ethereum: https://ethereum.org/en/developers/docs/scaling/layer-2-rollups/
-
Solana is indeed very good to continue to have a good ecosystem and is very feasible in the future because now this Solana coin is truly extraordinary to have something called uniqueness in coin development.
Smart contracts in this Solana coin type are really very good because when making a wallet we have to hold Solana coins and when we release the wallet our Solana coins will be returned and this will really be a coin that has a lot of holders.
-
Solana is indeed very good to continue to have a good ecosystem and is very feasible in the future because now this Solana coin is truly extraordinary to have something called uniqueness in coin development.
Smart contracts in this Solana coin type are really very good because when making a wallet we have to hold Solana coins and when we release the wallet our Solana coins will be returned and this will really be a coin that has a lot of holders.
There are many parties who do not like this sharp increase in Solana, so there is a lot of fud to bring Solana down. However, I remain optimistic that the price of solana will continue to increase, and will become a coin that continues to be at the top of Coinmarketcap's rankings.
-
I am generally surprised by this project, it seems to be a fairly young project, but it has already broken into the top 10 CMC by shifting influential and old projects, the price of solana constantly pleases with its new ATH, I would think about a worthy competitor in the form of solana if I were Buterin.