Now, if that sentence has you scratching your head a little, don’t worry. Polygon (MATIC) is a Layer2 (L2) scaling solution for the Ethereum network. Market Cap: $7.3 billion ($10.5 billion AUD) – #19 overall Price at the time of writing: $0.91 ($1.31 AUD) If the crypto market returns to bull market conditions, SOL looks primed for a big pulse in price. TLDR: Solana (SOL) is set to offer huge utility in the future, and a large number of users have been accumulating the token while the price remains low. He went on to add that while Ethereum may never be properly “replaced” by Solana, it’s very clear that Solana will remain competitive moving forward. Kyle Samani, a managing partner at crypto investment firm Multicoin, claimed that developer activity and the cashflow into the Solana project are still growing at an astounding rate. Security has been an issue for the Solana network in the past, after suffering from major hacks and other infrastructure hiccups. Where the Ethereum network is slow and expensive, Solana is fast and cheap offering up a competitive alternative for crypto aficionados to create new applications, mint NFTs and develop new projects in the rapidly expanding worlds of DeFi and Web3.Įarly last month, Solana branched out into a totally new industry, launching the first Web3-ready mobile phone alongside a physical store in New York City. Market Cap: $14.6 billion ($21.1 billion AUD) – #9 overallįirst launched in 2017, Solana (SOL) is the native token of a blockchain network that grew massively in 2021 after gaining a reputation as a potential “Ethereum killer”. Price at the time of writing: $42 ($61 AUD) It might be a good time to take advantage of some relatively low prices. At the end of the day, this temporary feeling of security has led to a boost in confidence driving up the prices of speculative assets, and sentiment can turn on a dime.
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