Solana price saw a 3% increase today. The cryptocurrency recently rose above $153, increasing market interest. A research report published by VanEck mentioned that Solana could see a rally to $330.
How Solana Is Better Than Ethereum
According to a MarketVector report by research firm VanEck, Solana is a leader in Ethereum in many areas. $2,629The report found that Solana processes 3,000% more transactions than Ethereum, has 1,300% more daily active users, and transaction fees are “5 million% cheaper,” making Solana a more efficient and scalable solution.
Despite these advantages, SOL’s market value is still only 22% of Ether. This shows that although Solana has surpassed Ethereum in certain areas, the king has not changed. Although Solana is very fast and cheap, there are alternatives with similar speeds and low costs. Moreover, Ethereum layer 2 solutions have become 10 times more advantageous in terms of fees after the last update. Although they have not yet reached the level of Solana transaction fees, Ethereum subnets are making progress.
The biggest advantage of the Ethereum network here is that it can work continuously and has gained strong acceptance in the cryptocurrency and finance world. The Solana network stops once or twice a year and this is now considered normal even by this community.
Solana Price Predictions
Following the report, the SOL price rose by 3.23% to $151.43, reaching a peak of $153.55 in the last 24 hours. The cryptocurrency has gained around 17% in the last seven days, indicating that market focus on Solana is regaining. Additionally, Solana Futures Open Interest increased by around 1% to $2.44 billion, according to CoinGlass data.
According to the technical analysis mentioned in the report, it is predicted that SOL can capture 50% of Ether’s market value and Solana price can reach $330. Factors that will drive the growth of the Solana network include the DeFi sector, stablecoins, and payment systems.
On the other hand, decentralized exchanges (DEXs) and DEX aggregators play an important role in the ecosystem. Offering fast and low-fee transactions makes SOL Coin more attractive to users and investors. The continued expansion of DeFi could support Solana’s growth. However, Ethereum is already the hub for all major DeFi protocols, making it a tough competitor to beat.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
