InstaForex

August 16, 2021

Awesome! Solana (SOL) Jumps Over 28%, Will Create Latest ATH!

 Solana (SOL) continued to set the best record when yesterday recorded a price jump of over 28%, placing this coin in 11th position based on CoinMarketCap.


Unlike other networks, Solana applies two consensus mechanisms: Proof-of-History (PoH) and Proof-of-Stake (PoS), resulting in it being able to process 50,000 transactions per second. It is not impossible that they will be able to reach 710,000 transactions per second in the future.


Analysts believe the value of SOL will continue to rise, thus recording the latest all -time high (ATH) in the near future.


$ SOL reaching for all time highs soon, very powerful weekly pic.twitter.com/LKr4BpgYeW


- The Crypto Dog📈 (@TheCryptoDog) August 15, 2021


For the record, SOL’s current ATH was $ 58.39 last May.



Two factors driving SOL’s positive movement can be seen when Mango Markets Decentralized Exchange (DEX) managed to raise $ 70 million in token sales on Aug. 11 for a decentralized autonomous organization (DAO) insurance fund project that serves as support to borrowers on the platform in case things go awry. Unwanted.


In addition, the adoption of the SOL ecosystem with the presence of Wormhole, a connection that allows networks such as Solana, Ethereum, Terra, and Binance Smart Chain to interconnect with each other.


The Solana community is definitely excited about this development. One of the crypto investors, Adam Cochran, described the network as having the potential to be a ‘top3-5 project’ and able to support the growth of Ethereum (ETH) for the long term.


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Let's talk about $ SOL, where it's going and why I'm bullish on how $ SOL and $ ETH actually work together to provide each other value that help grow their share.


I think this will easily bring $ SOL to a top 3-5 project and in turn push $ ETH over $ BTC long-term. pic.twitter.com/IphHl7TqoQ


- Adam Cochran (@adamscochran) April 22, 2021


At the time of writing, SOL is trading at $ 55.77 with an increase of almost 24% in 24 hours. Meanwhile, the total current cycle supply of tokens has reached a total of 286.3 million SOLs.