News

Solana set to be the ‘Bitcoin Killer’?

Written by: Elena R

November 28, 2021

A blockchain with the ability to perform thousands of transactions per second must be the next Bitcoin. Sam Bankman-Fried believes SOL has the potential to become the next Bitcoin since the Solana blockchain can execute 50,000 transactions per second. 

Sam Bankman-Fried (SBF), in a recent interview with Kitco, praised Solana for its potential to expand to millions of transactions per second. According to the FTX CEO, this makes Solana a critical component of cryptocurrency acceptance and the next Bitcoin.

The scalability of Solana could aid its evolution into a new Ethereum or Bitcoin. 

“I am optimistic about Solana. She has every chance of doing this, which is very interesting, I think.’

Analyst bullish on SOL

Influential investors are positive on Solana, which is helping altcoin gain traction. 

With a growth in institutional acceptance, venturefounder, a cryptocurrency analyst, feels that Solana could end up competing with Ethereum. 

“More Crypto Online” cryptocurrency analysts are positive on Solana. As the cryptocurrency price trend reverses, analysts forecast a price rise to a new all-time high of $305. 

During the crypto massacre on Black Friday, the price of Solana fell below $200. The price of the altcoin has recovered and is now trading near $200 at the time of writing. Over the last two months, there has been a surge in institutional intake and capital rotation into Solana.

At the time of writing, SOL is trading at $196.63, up 0.6% in the last 24 hours.the resistance on the upside is at $199.94. However in case of a decline, the support on the downside is at $190.68.  

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Recent Posts

Will Polygon Be The Amazon Of Altcoins By The End Of 2022? MATIC Price Surge To $7 Imminent This Cycle?

The crypto world has been generous to a host of emerging protocols. That has been…

January 22, 2022

Ethereum Might Kill All Its Supply By Being Deflationary! ETH Price To Dump Below $2k?

The king altcoin has been under correction over the past three months, and derivatives data…

January 22, 2022

Bitcoin Price To Find Its Grounds Around $28k By Mid-February! Here’s What You Need To Know?

Traders have been tired of buying the dip over the past couple of months, yet…

January 22, 2022

This is Why Retail Traders Are Cashing Out, While A Country is Buying the Dip

The stock market is crashing and so the crypto is, no matter whether people accept…

January 22, 2022

Bitcoin’s $100K Dream is Now Long Dead, Major Crash to $30K! Here’s When

The crypto market cap slashed heavily, recording a plunge of more than 11% compared to…

January 22, 2022

8 Businesses That Are Embracing Cryptocurrency More Recently

Although more and more people are getting involved in trading various cryptocurrencies, there are still…

January 22, 2022