TL;DR Breakdown
• Solana is trading today at $185.08, rising in value by 61.44 percent.
• SOL offers over 50000 transactions per second, tripling the Ethereum work.
New crypto investors should get into context about Solana and its huge influx in prices. Although the crypto looked vulnerable and would not reach an attractive value at its creation, it could surprise most speculators.
SOL, the token linked to the Solana crypto, made it to the top ten cryptocurrencies in the virtual market, beating Dogecoin, Uniswap, and even Binance USD. The cryptocurrency seeks to compete among the five favorite cryptos and even surpass Ethereum.
Solana: Surprisingly, the leading cryptocurrency in September
Since September began, the SOL cryptocurrency has gained three times its value, leading to over $35-billion market capitalization. Solana’s adoption has increased due to the decentralized network’s characteristics with fast transfers and low payment rates.
SOL has also supported the Defi market and non-fungible token auctions. Under these ideals, SOL could compete against the Ethereum network that has dominated the virtual market for years.
The SOL token was developed under a cryptographic services project. Crypto differs from Bitcoin because its purchase value is low, but it is linked to the functions that Ether usually imparts.
Solana supports up to 50000 transactions transfers per second, which is faster when compared to Bitcoin and Ethereum. The most attractive thing is that the transfer network is fast, but this does not interfere with the commission’s value. SOL is programmed for use by crypto beginners and professionals.
Although it sounds contradictory, the SOL network does not work only for payments but operates in different areas of the decentralized market.
Cryptocurrencies are usually differentiated by two factors: investment and profit. While Bitcoin offers a passive investment system because of its amazing value, the SOL network’s other goals focus on profit.
Like Ethereum, SOL is used to create Dapps, which are Blockchain-based programs with multiple objectives. Dapps are usually compared to the functions offered by emails, social networks, video calls.
Why is SOL so special?
Solana becomes a unique cryptocurrency due to its transactions speed. SOL outperforms BTC and ETH in this action because it was built to execute 50000 transactions every second while the competition tokens can only handle 15000. But SOL outperforms fiduciary payment systems such as Visa, which performs 1,700 transfers per second.
SOL has been growing by its latest announcements about the NFTs adoption and its participation in this market linked to digital art. Today, September 7, Solana is trading above $186.52, with a staggering 19.45 percent peak in less than 24 hours. The cryptocurrency has taken off in the last seven days, rising in value by 61.44 percent.
