The year 2024 has been filled with milestones in the crypto world that have been driving the growth of various cryptocurrencies, how the Bitcoin halving and the approval of Bitcoin and Ether ETFs. Now, Solana seems to be the next digital currency to follow this trend and see the increase in SOL's market capitalization, your native token, if your entry into the American stock market is approved
With the rise of Web3 and decentralized applications (dApps), the Solana ecosystem has gained more strength due to the diversity ofmemecoinsthat emerged, what also strengthened thetradingwith SOL and its market value. On July 1, 2023, the cryptocurrency had an approximate value of 20 dollars, while on July 22, 2024, its value represented 175 dollars, a growth of over 700% in dollars in a year, well above the increase of Bitcoin
“The approval of this type of instrument can take a long time, however, it is interesting the expectation that Solana has generated in recent months. The recent approval of Bitcoin and Ethereum ETFs shows the strength that the crypto industry has gained during this period. In the case of the asset, also stands out the growth it had, as well as the ecosystem that formed around it, due to the various uses of this network. All these factors make us question how she might behave in the future”, mention Daniel González, crypto specialist at Bitso
Solana is ablockchaincreated in 2017 and its beta version was released in 2020, with the intention of providing solutions based on smart contracts. With the Proof of Stake (PoS) and Proof of History (PoH) protocols, it can support up to around 50 thousand transactions per second
The currency is also a pioneer inliquid staking, that combines the best of the returns obtained bystakingwith the advantage of not losing the liquidity of the asset, as there are no minimum redemption times. That is to say, users can block them to contribute to the PoS² ecosystem and earn yields, but, at the same time, continue to have liquidity to operate
Recently, the cryptocurrency introduced a new feature in its network: the Blinks (links ofblockchain). These resources allow for donations, transactions, token or vote purchases using a URL, facilitating operations and improving the user experience. Now, it is possible to perform these actions without leaving sites or social networks like X or Discord, when connected to a wallet
The growth of SOL and other altcoins keeps the crypto world anticipating a crypto summer that reflects the expansion the industry has had and the changes we have experienced in recent years. The arrival of Web3 is also continuing to drive transformations and use cases for many cryptocurrencies that continue to gain strength, completes Daniel González
