Cryptocurrency analyst Santiago Santos recently Solana and the Ethereum network. As part of the analysis, Santos recommended: Solana Have advantage Ethereumwhich he believes may allow the former to catch up with the latter soon.
Solana’s recent performance is similar to Ethereum’s ICO boom
Santos mentioned in X (formerly Twitter) postal Solana is “going through what Ethereum did during the ICO boom.” However, analysts further claim that, unlike when it was just a white paper, Solana’s apps have seen meaningful usage and growth. This is one of the reasons why Santos believes Solana will “integrate into Ethereum faster than most people think.”
Cryptocurrency analysts refer to Solana’s recent operations, there are a lot of activities on the Internet. Some of this activity is attributed to applications and protocols built on the Solana network. in particular, Decentralized Exchange (DEX) Jupiter Solana has been attracting attention and even recently surpassed Ethereum’s Uniswap in daily transaction volume.
Ethereum, on the other hand, is known to have made a huge splash during the height of the ICO (initial coin offering) craze, when many projects flooded the web. Notably, Ethereum’s decentralized finance (DeFi) landscape happens to give the network an advantage, which is a contributing factor to Ethereum’s rise to become the second-largest crypto token.
Santos’ recent comments echo a growing belief in the cryptocurrency community that Solana may indeed be ready enough Taking Ethereum’s place As the king of DeFi.Continuing arguments in Solana’s favor include Speed and cost effectiveness.
Following Santos’ post, another X user hint That Solana Adoption Rate Probably higher than Ethereum considering users don’t have to worry about high fees.
SOL price loses footing above $100 | Source: SOLUSD on Tradingview.com
Solana about to hit $150?
this Important event Trading on the Solana network is believed to be one of the catalysts that pushed the price of SOL to $150. multiple analysts This price level continues to be highlighted as the next important stop for the crypto token.Furthermore, Jupiter is Set as airdrop JUP tokens will be issued on January 31st.
This highly anticipated event will result in new funds flowing into the Solana ecosystem, and the price of SOL may be positively affected by this liquidity splurge. Beyond Jupiter, Other DeFi projects Projects on Solana are making waves, and they may also launch their native tokens sometime this year.
As of this writing, SOL is trading just above $100, down more than 2% in the past 24 hours, according to the data data From CoinMarketCap.
Featured image from The Block, chart from Tradingview.com
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