With a market capitalization of around 64 billion dollars, Solana is already 13 billion dollars ahead of Ripple with its XRP token. Now we have to overcome the stable-coin tether, which is a good five billion ahead. Then Cardano is the next altcoin on the top list.
Cardano is under pressure: Solana is getting closer
It is already foreseeable that Solana could succeed Cardano as the most important Ethereum challenger with a proof-of-stake consensus model to inherit. On Monday, the SOL token hit a new all-time high of $ 218.73. The coin shows itself in the wake of Bitcoin and Ethereum, which had also broken up to new heights.
Cardanos Price, on the other hand, tends to move sideways. No peaks, no lows – Cardano moves like a stable coin, so basically not. Incidentally, that doesn’t necessarily have to be rated negatively. After all, the ADA-Coin is hardly volatile, which ensures it is in a good starting position for a coming outbreak. It would be unpleasant if Solana were to pull past him unchecked, because that would have further implications. Think of Defi, NFTs, Smart Contracts in general.
Solana: Can’t even be slowed down by a technical failure
The rapid ascent of Solana is astonishing insofar as the project’s blockchain recently had to cope with a longer failure. But that doesn’t seem to affect developers and investors any further. If we look at the Total Value Locked, we see that around 13 billion dollars have now been deposited in defi applications on Solana.
High activity is always a driving factor for the course. In this way, Solana may evolve past Cardano, whose network has also recently become smart-contract-capable, but has not yet taken any noteworthy journey in this direction.
Solana: Community focus and strong partners as success factors
Observers suspect that Solanas are stronger Community focus and open communication are success factors. While other proof-of-stake networks tend to keep their numbers to themselves, Solana deals with them very transparently. The network currently communicates more than 1,000 validators in the network that operate their own nodes.
With the FTX Founder Sam Bankman-Fried also has a strong supporter for Solana. Bankman-Fried’s FTX exchange is growing rapidly and aims to replace sizes such as Coinbase or Binance. As a confirmation, SOL is traded particularly intensively on FTX.
