Solana Outpaces Ethereum, Tron in Performance: The Block Research

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Solana surpasses Ethereum, Tron, and other L1s in this area

Solana has outperformed Ethereum, Tron, and other L1 blockchains. The fees and transactions on Solana were higher than other leading L1s. The price of SOL could potentially rise to $120, but a decline could occur beforehand.

Solana outperforms all metrics

Of all the leading Layer-One (L1) blockchains, Solana was the only one to see an increase in all metrics. This was confirmed after a thorough investigation of a post by The Block Research. According to the data provided, other L1s like Ethereum and Tron saw significant increases in stablecoin supply. Solana was not exempt from this, indicating growing interest in the crypto market.

Solana outperforms Ethereum and Tron

In terms of daily transactions, fees, and demand for their respective tokens, Solana surpassed both Ethereum and Tron. This suggests that the market is interested in SOL and the tokens in its ecosystem. This could correlate with price development. At the time of the press release, SOL was trading at $115.91. This was an increase of 98.47% within 30 days.

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Solana continues to be in demand

The social volume, which tracks the text documents or search queries related to a project, confirmed that Ethereum and Tron could not compete with Solana. At the time of the press release, ETH’s social volume was at 25. TRX’s volume was lower, while SOL surpassed both with a value of 30.

Price drop before the rise

Social metrics can have a snowball effect on cryptocurrency valuation. In the case of SOL, an increase in social volume could drive the price up to $120 in the short term. But if the metric becomes too high, it could indicate a local peak, which could lead to a price drop.

SOL’s market capitalization in ETH terms

If the RSI value reaches the range of 70 to 75, SOL could decline as it would be overbought. In the overbought state, the price could potentially drop below $100. But in a very bullish case, Solana’s confirmation could test $150 for the first time in more than two years.

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Casinos: 7
Profile Solana
Symbol SOL
Coin type Alt Coin
Transaction Speed High
Pros
  • Secure payment method
  • Very fast transactions
Cons
  • Not widely used
Price 126,18 €
Percent Change 24h -1,32 %
Percent Change 7d -12,66 %
Percent Change 30d -26,95 %
Percent Change 60d -9,19 %
Percent Change 1y 750,70 %
Market Cap 58.018.436.061,00 €
Official Links
Socials Reddit | X
Best 3 Solana casinos

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Last update: 11. June 2024

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