Why Solana Has Outperformed Ethereum, SOL Up 36% In One Week

Name	Symbol	Market	Market Cap ($)	Algorithm
Polkadot	DOTUSD	Crypto	9,277,824,354	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Polkadot

DOTUSD

Crypto

9,277,824,354

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.050	0.72%	6.97	6.97	6.97

Price Change

Price Change %

Current Price

Bid Price

Offer

0.050

0.72%

6.97

High Price	Low Price	Open Price	Prev. Close	52 Week Range
6.99	6.92	6.93	6.92	- - -

High Price

Low Price

Open Price

Prev. Close

52 Week Range

6.99

6.92

6.93

6.92

- - -

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	01:38:50	18.83	6.97	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

01:38:50

18.83

6.97

USD

Price x Volume	Volume	Base Symbol	Related Pairs
76,546.86	11,005.69	DOT	DOTEUR	DOTGBP	DOTBTC

Price x Volume

Volume

Base Symbol

Related Pairs

76,546.86

11,005.69

Why Solana Has Outperformed Ethereum, SOL Up 36% In One Week

24/06/2022 11:00pm

NEWSBTC

Solana (SOL) is the best performing asset in the crypto top 10 by market cap. The market seems to be positively reacting to Solana Labs’ smartphone announcement as the cryptocurrency is surging faster than other assets in this tanking. Related Reading | Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead? At the time of writing, SOL’s price trades at $42 with a 12% and 36% profit in the last 24 hours and 7 days respectively. In the meantime, the second-best performing cryptocurrency is XRP with a 16% profit in the past week, followed by Polkadot (DOT) with 15%, and Ethereum with 14% profits. Solana has been recovering after experiencing massive selling pressure. In addition to trending in tandem with the crypto market, the cryptocurrency was impacted by negative news and a series of network outages that prevented users from transacting on it. This week’s bullish momentum could be related to yesterday’s announcement, but a pseudonym analyst believes Solana is playing the long game. In that sense, this network is posing a “large and growing threat to Ethereum”, currently, the most used blockchain across decentralized finances (DeFi). The analyst claims the team behind Solana is addressing the complexities and difficulties people have when using Ethereum. The network, its ecosystem, and products on it, the analyst claims, require users to have a degree of technical knowledge and allegedly have poor performance. In addition, Ethereum is an expensive network that prices out a lot of users from accessing its ecosystem. The analyst believes a blockchain should be built for the everyday user and thus claims the “Solana crowd is more in touch with reality”. This could work out for this network in the long run and potentially attract market share from Ethereum. The launch of its own native smartphone seems like the tip of the iceberg. The analyst said: is this very decentralized? no. is this ethically funded/monetized? probably not, lol. but could your grandma use this? YES. but projects in the ecosystem generally gravitate towards better usability, because solana builders generally focus on usability more than eth builders. Solana More Productive Than Ethereum? Furthermore, the analyst claims Solana developers are “more productive” and more “focused” than Ethereum developers. The analyst concluded: I strongly dislike Solana. but it is healthy to put Ethereum in the hot seat at times like these. if we feed ourselves isolated delusions of Ethereum being uncontested while relatively failing to serve the normal user, then Solana just might win. Related Reading | Is Bitcoin Like Buying Google Early? Check Out The Shocking Comparison At its peak, Ethereum DeFi protocols commanded over $100 billion in total value locked (TVL) while Solana reached over $12 billion. If the latter is capable of taking a portion of Ethereum’s TVL, Solana could return and surpass its all-time high and see unprecedented expansion.

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

DOTUSD Polkadot