Altcoins

Solana Is Heading Towards North, Claiming Its Tag of “Ethereum-Killer”!

Written by: Qadir AK

Written by right arrow

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

  • author facebook
  • author twitter
  • linkedin

Nov 3, 2021

news-image
Highlights

    Solana has flipped Cardano, now stands at the fifth position in terms of market cap.

    Solana NFT secondary sales reach close to $500 million in three months.

Solana is on track and is chugging at a higher pace, claiming newer highs on the charts. The altcoin has surpassed Cardano in terms of market cap. And is gearing up for the next big move. The protocol has also seen secondary NFT sales reaching close to $500 million in three months. In addition, the firm is organizing an offline conference. 

Cardano’s Sluggish Pace, Makes Way for Solana?

Solana and Cardano have been regarded as Ethereum killers by the crypto community. Owing to the protocol’s potential. However, Cardano price has been sluggish ever since the launch of smart contracts. The digital coin seems to be stuck in a quagmire of sorts. 

Solana hit its new ATH, a couple of hours ago. And has grabbed Cardano’s ranking by market cap. The upcoming Hydra update hasn’t fueled the protocol enough to hold its positions firm. Solana surpassing one of its main rivals could take it to newer highs in near future.

Also Read : Solana is Outpacing Ethereum! When will the SOL Price Breakout?

Catalyst’s Fuel Solana Claim Higher Highs

Solana is organizing the first global offline conference BreakPoint 2021 – Lisbon. Which is a 3-days long event, from the 7th of November 2021 to the 10th of November 2021. The event will be live-streamed for viewers, who cannot attend the event. The conference will be packed with panels, workshops, and announcements.

Another important update is that Solana NFT secondary sales reach nearly $500 million in three months. This is of utter importance for the network, as the world moves towards NFTs and virtual reality at a rapid pace. 

Collectively, according to some sources the network has over 1,000 validators with almost 77% of its supply at stake. While the stake remains high, there are concerns over the number of validators.

The SOL price has been rising at an exciting rate and is at a price discovery mode. The digital asset at press time is trading at $228.20 with 11% gains. While the market cap is around $68,736,547,578 taking the coin to 5th position. The trading volume for the last 24-hours is about $4,143,877,457.

The Ethereum-killer hit its new ATH of $229.76 a few hours prior to press time. With the current pace, Solana could possibly claim its title of Ethereum-killer. As it is stepping up the market cap at a rapid pace.

Show More

Was this writing helpful?

dislikeimage No myImage Yes

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Related Articles

Back to top button