Last month brought extraordinary rises to the crypto world. Behind Bitcoin and Ethereum’s back, SOLUSD has claimed a more significant position in this developing market.
Solana – need to know
Each crypto has its very own advantages in terms of technology, efficiency, development potential, and even marketing (say hello to meme coins). When it comes to Solana, this combination of pros might become revolutionary.
One of the biggest issues in assets like Bitcoin and Ethereum is the combination of sourcing and efficiency. Solana solves this problem with its unique approach.
In terms of “mining,” SOL USD starts with a similar path to ETH USD – with proof of stake. This means that, unlike generating substantial amounts of energy, the validation of coins happens through staking rather than mining. Solana goes even further with its proof of history solution, which makes validation way faster. In fact, this process is hundreds of times faster than Ethereum.
Together with lower fees, Solana gains increased interest from both novice and seasoned traders. Traders can check the Solana chart on the SimpleFX platform.
The special crypto environment
The crypto world consists of multiple assets. Similarly to forex, some coins possess unique interconnectedness. Solana also has a couple of relationships that can impact the price fluctuations of both cryptocurrencies.
Polygon: Matic is the name of the token created with the Polygon environment. Its approach to improving the scalability of Ethereum makes it highly related to this cryptocurrency. Matic to dollar investors point out the reduced transaction fees compared to ETH, plus its user-friendly solutions give a tight advantage against Solana.
Cardano: The unique values of Cardano cryptocurrency are approaches based on research and interoperability. It’s more focused on sustainability compared to Solana’s ultimate goal of efficiency.
Avalanche: The most important feature of this platform is effortless blockchain creation. According to analysts, Avalanche crypto is more secure than Solana, while SOL is even faster (65,000 transactions per second).
How did SOLUSD react after the U.S. elections?
Last month brought some substantial returns for the crypto market. As usual, the BTC / USD pair stole the show, constantly beating its all-time high levels. On December 5th, it reached the magical barrier – Bitcoin 100k is not a myth, but a fact.
How does Solana place in this bullish period for cryptocurrencies?
Almost every notable crypto asset has experienced a massive boost since Donald Trump’s victory. However, in most cases, these rises still can’t match the levels from the first part of the year. Solana is a completely different example. At the end of November, Solana exceeded its value from 2021 and NFT hype, reaching $264.
Compared to other altcoins, SOLUSD may be one of the biggest winners behind Bitcoin’s back.
Vital impact on AI technology
The development of new cryptocurrencies and solutions to make the crypto environment faster, more secure, and more efficient comes together with new technologies.
At this moment, the AI market is constantly growing, which can be seen in NVDA shares. Its technology has changed the digital world for years, and it doesn’t seem to stop. Together with other companies listed on the Nasdaq index, NVIDIA leads the way into the new reality where artificial intelligence and people cooperate and learn from each other.
Moreover, there are some rather new cryptocurrencies that heavily use artificial intelligence. FET price today can be the perfect example of that. Its searching, analytical, and hosting features make this platform a special place for multiple businesses worldwide, including those focused on the crypto market.
