Last updated Oct 29, 2023
Solana (Sol) crypto project grabbed the attention of institutional investors, as Sol coin surged nearly 70% in 30 days.
Solana (Sol) is a popular Proof-of-stake (PoS) concept based crypto network that is ideal for completing Crypto transactions with up to 70k TPS potential at a very low cost. Now-bankrupt crypto hedge firm Alameda Research was the top Investor in this coin. In Nov 2021, Sol coin was trading at a $259 trade price but later started to face a downfall following the Solana network issues because of vulnerability in its contract.
As we know the trade price of Sol coin surged by nearly 70% in the last 30 days and also we shared an analysis of its trade price.
This step-by-step strong increment in the trade price of Sol coin dragged the attention of the majority of the crypto traders including institutional investors.
On 27 Oct 2023, Popular Crypto digital assets fund manager VanEck shared its analysis on the Solana (Sol) blockchain network and said that people’s interaction level with this crypto network is better over PayPal & Facebook like internet giants.
According to the research, businesses that are not mainly focused on decentralization can use the Solana network more perfectly to deploy their business application because this is only the network that can handle high traffic.
On behalf of multiple experimental activities e.g mobile phones, NFTs that contain applications, and consumer-focused products like decentralized mapping and automobile data collection by Solana Labs, the developer firm behind the Solana project, VanEck considered that Solana aimed to make things better & convenient for people.
According to VanEck, the trade price of Sol coin will show fluctuations with a very big difference in the future. Its research claimed that its highest trade price will be $3,211 in 2030 and its Base & bear price will be near $335 & $10.
Here all the Bitcoinik.com readers need to understand that VanEck shared its prediction on this crypto token on behalf of several facts and people should not consider it the best financial advice, instead we suggest people to research individual to avoid any kind of financial loss.
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