Solana Sets Another All-Time High Of $260 Over The Weekend

Solana sets another all-time high of $260 over the weekend and just two days after the Ethereum Killer crossed the $250 level. In today’s Altcoin news, we are reading more about it.

Solana sets another all-time high of $260 over the weekend while it did pull back slightly by 3.32% but then it is still 35% higher than a week ago. Today’s new gains further excite what was already a momentous week for the rising currency as Solana flipped Cardano to become the fourth-biggest cryptocurrency by the market cap when its price reached $250. It’s also worth noting that the total value locked in Defi protocols on Solana is reaching a record high of $15.14 billion as per data aggregator DefiLlama.

All of these great movements came in time for the first day of Solana’s foundation inaugural conference Breakpoint which happens in Lisbon with guest speakers including Solana CEO Anatoly Yakovenko, Meltem Demirors, and fTX CEO Sam Bankman Fried. Solana was founded in 2017 with the mainnet officially launching in 2020 and designer Anatoly Yakovenko enabling the smart contract technology on the Solana blockchain to support the creation of decentralized finance products as well as Dapps.

Solana claims to be a more scalable and cheaper alternative to Ethereum with ETH suffering from what’s known in the industry as a transaction bottleneck which means the network can handle about 12-14 transactions per second. Solana on the other hand claims to be able to handle 50,000 TPS which makes it one of the fastest blockchains on the market. Solana has a super-fast block time and this is a measurement of time showing how long it takes to produce a block. The block is a file containing a list of transactions on the network in a given timeframe and Solana claims it can finish the block in a little over 400 milliseconds.

In addition, Solana is also capable of hosting NFTs which aren’t as big as Ethereum but there’s still a lot of room for growth.  Last month, the sales of a Tungsten Cube NFT on Solana raised $100,000 for Coin Center. Solana is cheaper as well and it is constantly getting lots of TLC from developers.

As recently reported, Finder, which is a product comparison website published a survey showing that crypto strategists say Solana’s value could surge above $5000 by 2030. The Survey had about 50 experts from fintech and the crypto world as panelists were asked about what they think the value of this coin will be at the end of the year by 2025 and where the price will come up to in the next decade.

Source: https://www.dcforecasts.com/altcoin-news/solana-sets-another-all-time-high-of-260-over-the-weekend/