{"id":609044,"date":"2024-05-21T04:39:42","date_gmt":"2024-05-21T04:39:42","guid":{"rendered":"https:\/\/uniquehot.com\/?p=609044"},"modified":"2024-07-11T09:03:52","modified_gmt":"2024-07-11T09:03:52","slug":"solana-leaves-competition-in-the-dust-blazing-speed-to-fuel-price-surge","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/solana-leaves-competition-in-the-dust-blazing-speed-to-fuel-price-surge\/","title":{"rendered":"Solana Leaves Competition In The Dust: Blazing Speed To Fuel Price Surge?"},"content":{"rendered":"

Claimed to be “world’s fastest blockchain,” Solana (SOL) has been making news for its blistering transaction speeds and explosive token price. But are there gaps in the apparently flawless road or is Solana land all sunshine and rainbows?<\/p>\n

Related Reading: Solana Blasts Past Resistance: Buckle Up For $330 Breakout \u2013 Analyst<\/a><\/div>\n

Solana Takes The TPS Crown<\/strong><\/h2>\n

Solana exceeded rivals including Polygon and Ethereum in transactions per second (TPS), based on CoinGecko data. Faster transaction processing times translate into a major component of scalability and mass adoption in the blockchain environment.<\/p>\n

\"\"
Source: Solana Explorer<\/figcaption><\/figure>\n

On closer inspection, though, the picture is more complex. Although daily active addresses\u2014which show individual users connecting with the network\u2014have grown, daily transaction count hasn’t kept pace.<\/p>\n

This points to a situation whereby more people are joining the Solana ecosystem but their transaction activity is not always high. Is there anything else at work or is this a case of casual crypto tourists sticking their toes in?<\/p>\n

Fees Take A Tumble, But Is It A Sustainable Slide?<\/strong><\/h2>\n

Solana’s declining transaction costs adds still another fascinating aspect. For consumers, this could sound like welcome news, but it could also be a two-edged blade. Reduced costs could suggest that the handled transactions are less complicated and call for less charges.<\/p>\n

Total crypto market cap currently at $2.5 trillion. Chart: TradingView<\/a><\/figcaption><\/figure>\n

Long-term Solana’s income generating might thus be limited. A drop in costs could also indicate a decline in network congestion, which would help to explain the flat daily transaction count.<\/p>\n

DeFi Keeps The Party Going, But Caution Flickers<\/strong><\/h3>\n

Solana has one positive point: its Decentralised Finance (DeFi) Total Value Locked (TVL) is rising steadily. TVL shows the whole value of crypto assets placed in DeFi systems; DeFi is a suite of financial services developed on blockchains.<\/span>
\n<\/span><\/p>\n

Rising TVL for Solana is becoming more and more popular in the DeFi market, where users could lock their crypto to profit from interest or start other financial endeavours. This suggests rather good conditions for the welfare of the Solana ecosystem.<\/span>
\n<\/span><\/p>\n

Related Reading: Litecoin Put To The Test: Can LTC Break Through $94?<\/a><\/div>\n

Technical indicators like the Money Flow Index (MFI) do, however, raise some cautionary notes. This signal points to a possible SOL price adjustment and implies that the present increase might not be totally sustainable.<\/span>
\n<\/span><\/p>\n

Add this to the inconsistent signals on network activity and the falling charge structure, and Solana’s long-term prospects are left under a question mark.<\/p>\n

\"\"
SOL price action in the last week. Source: Coingecko<\/a><\/figcaption><\/figure>\n

A Blockchain In High Gear, But the Destination Is Unclear<\/strong><\/h3>\n

Unquestionably, Solana has outstanding transaction speeds and robust DeFi presence.<\/span> Nevertheless, the general activity and tokenomics of the network call into doubt its long-term survival.
\n<\/span><\/p>\n

Data from CoinGecko showed SOL was trading at $185, up 7.1% and 26.0% in the daily and weekly timesframes at the time of writing. This price explosion and the network’s explosive transaction rates create a picture of an enterprise with enormous promise.<\/p>\n

Solana will have to answer the questions regarding its network activities and long-term viability, not to mention provide more gasoline for its price if it is to really become a major force.<\/p>\n

Featured image from F1, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Claimed to be “world’s fastest blockchain,” Solana (SOL) has been making news for its blistering transaction speeds and explosive token price. But are there gaps in the apparently flawless road or is Solana land all sunshine and rainbows? Related Reading: Solana Blasts Past Resistance: Buckle Up For $330 Breakout \u2013 Analyst Solana Takes The TPS Crown Solana exceeded rivals including Polygon and Ethereum in transactions per second (TPS), based on CoinGecko data. Faster transaction processing times translate into a major component of scalability and mass adoption in the blockchain environment. On closer inspection, though, the picture is more complex. Although daily active addresses\u2014which show individual users connecting with the network\u2014have grown, daily transaction count hasn’t kept pace. This points to a situation whereby more people are joining the Solana ecosystem but their transaction activity is not always high. Is there anything else at work or is this a case of casual crypto tourists sticking their toes in? Fees Take A Tumble, But Is It A Sustainable Slide? Solana’s declining transaction costs adds still another fascinating aspect. For consumers, this could sound like welcome news, but it could also be a two-edged blade. Reduced costs could suggest that the handled transactions are less complicated and call for less charges. Long-term Solana’s income generating might thus be limited. A drop in costs could also indicate a decline in network congestion, which would help to explain the flat daily transaction count. DeFi Keeps The Party Going, But Caution Flickers Solana has one positive point: its Decentralised Finance (DeFi) Total Value Locked (TVL) is rising steadily. TVL shows the whole value of crypto assets placed in DeFi systems; DeFi is a suite of financial services developed on blockchains. Rising TVL for Solana is becoming more and more popular in the DeFi market, where users could lock their crypto to profit from interest or start other financial endeavours. This suggests rather good conditions for the welfare of the Solana ecosystem. Related Reading: Litecoin Put To The Test: Can LTC Break Through $94? Technical indicators like the Money Flow Index (MFI) do, however, raise some cautionary notes. This signal points to a possible SOL price adjustment and implies that the present increase might not be totally sustainable. Add this to the inconsistent signals on network activity and the falling charge structure, and Solana’s long-term prospects are left under a question mark. A Blockchain In High Gear, But the Destination Is Unclear Unquestionably, Solana has outstanding transaction speeds and robust DeFi presence. Nevertheless, the general activity and tokenomics of the network call into doubt its long-term survival. Data from CoinGecko showed SOL was trading at $185, up 7.1% and 26.0% in the daily and weekly timesframes at the time of writing. This price explosion and the network’s explosive transaction rates create a picture of an enterprise with enormous promise. Solana will have to answer the questions regarding its network activities and long-term viability, not to mention provide more gasoline for its price if it is to really become a major force. Featured image from F1, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":609049,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,14690,1558,3504,12837,83626],"class_list":["post-609044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-crypto-news","tag-cryptocurrency","tag-price","tag-sol","tag-solana"],"acf":[],"yoast_head":"\nSolana Tops Competition: Blazing Speed To Fuel Price Surge?<\/title>\n<meta name=\"description\" content=\"Claimed to be "world's fastest blockchain," Solana (SOL) has been making news for its blistering transaction speeds and explosive token price. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Solana Leaves Competition In The Dust: Blazing Speed To Fuel Price Surge?","url":"http:\/\/uniquehot.com\/news\/solana-leaves-competition-in-the-dust-blazing-speed-to-fuel-price-surge\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/solana-leaves-competition-in-the-dust-blazing-speed-to-fuel-price-surge\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/a_ee87e8.avif?resize=200,200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/a_ee87e8.avif"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","crypto news","cryptocurrency","price","sol","solana"],"dateCreated":"2024-05-21T04:39:42Z","datePublished":"2024-05-21T04:39:42Z","dateModified":"2024-07-11T09:03:52Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Solana Leaves Competition In The Dust: Blazing Speed To Fuel Price Surge?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/solana-leaves-competition-in-the-dust-blazing-speed-to-fuel-price-surge\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/solana-leaves-competition-in-the-dust-blazing-speed-to-fuel-price-surge\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/a_ee87e8.avif?resize=200,200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/a_ee87e8.avif\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"crypto news\",\"cryptocurrency\",\"price\",\"sol\",\"solana\"],\"dateCreated\":\"2024-05-21T04:39:42Z\",\"datePublished\":\"2024-05-21T04:39:42Z\",\"dateModified\":\"2024-07-11T09:03:52Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/a_ee87e8.avif","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/609044"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=609044"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/609044\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/609049"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=609044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=609044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=609044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}