Solana (SOL), which is shown as the biggest competitor of decentralized and open source blockchain Ethereum, broke the all-time record by reaching $259 in early November, but is currently 20% behind it. Despite this, it seems that the price of SOL has increased by 41.291% in a 1-year period. Analysts are even more optimistic about the rise of the SOL.
According to 50 financial technology experts who came together at an event of Finder; SOL could climb above $235 towards the end of 2021. The common opinion that emerged as a result of Finder's work with experts; It happened that SOL would technically overtake Ethereum.
Although the Solana network was recently attacked by DDOS, the downtime of the network did not negatively affect it as much as it was thought. Solana's team quickly recovered. Gavin Smith, general partner of the Panxora Crypto I hedge fund, stated that such an infrastructure actually deserves much higher than the price it should be at the moment.
Smith said he hopes to see a price of $250 and above by the end of 2021.
SOL is one of the few smart contract-based blockchains with a technical architecture that would be difficult for Ethereum to compete on the basis of transaction speed and transaction cost. For smart contract use – especially in DeFi – these factors are a critical indicator of success.
One of the points that Finder experts gave plus points was the fast processing capacity of SOL. Linda Kreitzman, partner of Oxpartners.com, emphasized that transactions on Solana are faster than Ethereum and said that SOL will open soon.
Francisco Rodrigues of Cointelegraph on SOL;
Ethereum cannot compete with the speed of transactions on Solana, which developers are increasingly looking at.
expressed an opinion.