Solana has had an amazing past 2 years as it became one of the fastest growing altcoins; in 2022, we see how they are doing what many tokens couldn’t and won’t be able to do.
Few fall in the same category as Solana, so let’s take a look at what’s taken the token here, and what may look ahead.
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Briefing Of Solana And It’s Rise During 2021…
Solana, in brief, refers to a public platform for blockchain technology. This platform achieves consensus through the proof of stake method. It’s internal cryptocurrency ticker is SOL. In 2021, Bloomberg journalist Joanna Ossinger described Solana as “a potential long-term rival for Ethereum,” citing superior transaction speeds and lower associated costs.
Last year was a pretty good year for Solana ($SOL) as many early investors saw upwards of 45,000% gains in 2021 – which propelled Solana to being a top 10 crypto. Altcoins enjoyed a boom year and Solana wasn’t an exception. The project has a unique blockchain that uses ‘proof-of-stake’ coupled with ‘proof-of-history’. It means transactions are done in an order which allows for very fast and low-cost transactions.
SOLANA experienced a 10% decrease in its stock price this past week. TradingView.com: SOL-USD
As Visa prepares to launch its Fast Track program, Solana was also featured in the media. In a recent press release, Zebec was the first Solana project to receive Visa’s Fast Track program. It has already supported many companies including Chime, Stripe and Crypto.com. Here’s what Sam Thapaliya, founder and CEO of Zebec Protocol, stated regarding the release:
“By joining Visa’s Fast Track program, exciting Fintechs like Zebec Protocol gain unprecedented access to Visa experts, technology, and resources. Zebec completely transforms financial transactions by making them programmable, continuous, and programmable. We’re thrilled to join with Visa to accelerate the process of bringing our innovative payment solutions to millions of users worldwide.”
The Good And The Bad.
Many investors are excited to see what Solana brings to the table, as recent studies show that a survey of 30 random crypto token holders, 10 held Solana’s token over bigger coins.
Although altcoins have seen a lot of rising activity in 2021, it has not been easy for all the major altcoins. SOL’s price has not been kind to bulls of late. SOL’s price has fallen nearly 30% over the last nine trading days from its peak of almost $205. The selling pressure at highs and lows were nothing in comparison to those at lows. This is encouraging news for the future.
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