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The post Will This Be A Menace In Solana’s Move To The Third Position By Market Cap This Alt season? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The global crypto market is home to a plethora of projects, of which a handful of these projects have been turning heads. The metrics of the protocols have been meritorious at numerous fronts, be it monetary, fundamentals, development, or utility. In succession, Solana has been making it to the spotlight quite often.

Solana this time around gets exposure, as a strategist of Bank of America. In a research, note commends that Solana could become the Visa of digital assets. Which has garnered applauds from the Solana circle. In a sack full of praiseworthy utilitarian applications, Solana built DeFi becomes the third-largest options protocol in DeFi by TVL in just 3-weeks from launch.

Will Solana Be The Visa Of Digital Assets?

Bank of America’s global crypto and digital assets strategist in a research note that sheds light on a few cryptos. Cites that Solana could become the Visa of digital assets. He further mentioned that, with the network being home to 400 dApps, hosts from p2p exchanges to NFT marketplaces. 

He takes note, writing that Solana’s ability to provide high-throughput, apace with lower costs and ease of use, makes it a sought-after protocol for DeFis, NFTs, Web3.0, micropayments, and gaming. While the lower level of decentralization is a tradeoff, the scalability, transaction speeds, and affordable costs, makes it a capable Ethereum killer.

Solana with its robust fundamentals and faster TPS (65000 theoretical), elbow drops the TPS of Ethereum and Visa. Which are at 12 TPS on mainnet for Ethereum, and 1,700 TPS of Visa, which theoretically can manage 24,000 TPS.

Solana And Its Troop Of Use Cases!

Solana with its robust fundamentals is also one of the most composable chains. The founder of stable coin UXD cites that it helps the network in attracting a host of investors and coders. As it fosters innovation and dummy runs. 

With a host of applications being created and integrated with each other. Entrepreneurs can build on top of that, which increases the value of every other application.  Further enlightening that composability is important because it opens doors to various ways to innovate by integrating with other defi primitives.

As aforementioned,  In a sack full of praiseworthy utilitarian applications. Solana built DeFi Friktion becomes the third-largest options protocol in DeFi by TVL, with $96 M in TVL. In just 3-weeks from launch. The remarkable feat is achieved with no inflationary incentives, based solely on purely market-driven sources of returns. 

On the other hand, Solana’s Intergalactic metaverse, Space Falcon will be launching on Radium Protocol. Pool registration is scheduled from 24th January to 25th January at 00:00 UTC. The IDO of the FCON token is due on the 25th of January at 12:00 UTC.

Summing up, the praiseworthy fundamentals of the blockchain, apace with the network’s presence in NFTs and Metaverse will be the foundation for Solana’s embarkment to higher levels. However, the congestion in the network which is a major setback needs to be countered for a lunar expedition.

One thought on “Will This Be A Menace In Solana’s Move To The Third Position By Market Cap This Alt season?

  1. You all probably know the 7 deadly sins of the bible, these can be portrayed to your crypto journey aswell

    At first we got gluttony.

    “Don't lay all your eggs in the same basket”, only because one project gave you great results, you shouldnt invest 100% of your portfolio into it, trust your other investments and diversify your portfolio.

    Lust

    Don't try to chase big wins with leverage trading, it might be a nice “high” to get such huge wins, but you are going to regret it as soon as you get liquidated.

    Anger

    Don't ever lose your mental or physical health for a loss. Its only a real loss if you sell, and even then you have learned something important.

    Sloth

    A 5 minute youtube video or newsletter by an influencer isnt enough information, and most of the time they aren't trustworthy. Always do your own research.

    Greed

    Ah good old greed, our worst enemy. Don't FOMO because market turned green, just stick to your investment plan and you are good to go.

    Pride

    Don't share your investments with your close ones and always stay humble, especially in this volatile market you can get fucked quick.

    Envy

    Don't envy others if they are able to afford more crypto, had a better entry price, or had 1-2 lucky moonshots. Be happy for each other and remember, we are all in this together.

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