• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Friday, July 18, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto

Ethereum’s rival Solana is climbing the cryptocurrency top ten.

by Shambhavi Soni
September 8, 2021
in Crypto, News, Trending, World
Reading Time: 2 mins read
0
Solana

Image credits: Solana

TwitterWhatsappLinkedin

The Solana network’s cryptocurrency has ascended to seventh place among the world’s top 10 virtual coins, fuelling speculation that the blockchain might be a long-term competitor to Ethereum.

You might also like

Zuckerberg, Meta Directors Settle $8 Billion Privacy Trial

Samsung Chairman Jay Y. Lee Cleared in 2015 Merger Case

Microsoft Salaries Revealed, AI Teams Earning More Than Ever Amid Strategic Shift

Solana’s SOL coin has tripled in value in three weeks, according to CoinGecko, and now has a market cap of almost $41 billion. Solana’s proponents praise it for its alleged speed and cheaper transaction costs in decentralised banking and digital collectables, two sectors where Ethereum now reigns dominant.

credits- bloomberg

Bitcoin’s 60% surge since its July lows may be receding as Cuba recognises and regulates cryptocurrencies. Central American countries wonder if Bitcoin can help them save money on remittances. What is the reason for Bitcoin’s rise?

“Solana has a healthy ecosystem, businesses are being established on it, and it’s benefited greatly from the hysteria that’s taking on in NFTs,” Antoni Trenchev, co-founder of crypto lender Nexo, said in an email. ” Non-fungible tokens (NFTs) are used to exchange digital collectables. He cited the support of crypto tycoon Sam Bankman-Fried — the company’s CEO — as proof.

The Solana coin

Solana bills itself as the world’s fastest blockchain, with an average transaction cost of $0.00025, according to its website. Bankman-Alameda Fried’s Research, venture capital company Andreessen Horowitz, Polychain Capital, and CoinShares were among the investors in a $314 million investment round disclosed in June.

In an email, Monday, Alexandra Clark, sales trader at U.K.-based digital asset broker GlobalBlock, said, “Major companies in the market, such as FTX and Jump, are seeing its potential.” “Not only that, but the network’s move into NFTs with Solanart, the marketplace built on the SOL blockchain, has helped drive the altcoin’s price higher,” she added.

Pyth Network, a Jump Trading-affiliated crypto market data service, went live on Solana’s way late last month, a move that is expected to assist the field of decentralised finance grows. In the near future, it is expected to be able to send market data across the so-called Wormhole Network.

“It’s becoming too big to ignore,” Jonathan Cheesman, head of over-the-counter and institutional sales at FTX, wrote in an email. “It gives a fresh smart contract approach to Ethereum.”

Alternative coins such as Solana’s SOL, Cardano’s ADA, and Binance Coin have risen in value in recent weeks, stealing some of the spotlights from top tokens Bitcoin and Ether in a wide crypto recovery from a May crash. Bitcoin has also risen, approaching $52,000 on Monday.

Some sceptics claim that the technological advancements that are powering some tokens may not be sufficient to justify the scope of the rallies.

 

 

Tweet54SendShare15
Previous Post

cryptocurrencies to be considered as commodities in India

Next Post

Apple stock rose to a new all-time high after launch date announced

Shambhavi Soni

Recommended For You

Zuckerberg, Meta Directors Settle $8 Billion Privacy Trial

by Anochie Esther
July 18, 2025
0
Zuckerberg

In a sudden twist that ended what could have been a landmark courtroom showdown, Meta Platforms CEO Mark Zuckerberg and several current and former directors reached a settlement...

Read more

Samsung Chairman Jay Y. Lee Cleared in 2015 Merger Case

by Anochie Esther
July 18, 2025
0
Lee

In a pivotal ruling that removes a significant legal overhang, South Korea’s Supreme Court on July 17 cleared Samsung Electronics Chairman Jay Y. Lee of all charges related...

Read more

Microsoft Salaries Revealed, AI Teams Earning More Than Ever Amid Strategic Shift

by Anochie Esther
July 18, 2025
0
Microsoft

Amid significant layoffs and an aggressive pivot to artificial intelligence, Microsoft finds itself under the spotlight once again this time not for job cuts or corporate strategy, but...

Read more
Next Post
Apple launch event 2021 rumored dates - Expected products which will be launched

Apple stock rose to a new all-time high after launch date announced

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple Artificial Intelligence bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?