Solana (SOL) Invests Binance Coin (BNB), Is Ethereum Next?

Solana (SOL) Invests Binance Coin (BNB), Is Ethereum Next?

Solana (SOL) has turned around Binance Coin (BNB) is set to become the fourth-largest cryptocurrency by market capitalization, prompting investors to wonder if Ethereum’s (ETH) turnaround is next.

Solana (SOL) has turned around Binance Coin (BNB) is set to become the fourth-largest cryptocurrency by market capitalization, prompting investors to wonder if Ethereum’s (ETH) turnaround is next.

Advertisement

Binance coin launched by Solana

According to the latest data from CoinMarketCap, Solana’s market capitalization is now $89.3 billion, higher than BNB’s $85.6 billion. This development comes amid a broader cryptocurrency market rally, with Solana trading at $201, representing a 35.14% increase over the past week.

Related
Solana (SOL) makes BNB the fourth largest coin

Solana’s rising market capitalization demonstrates its growing supremacy in the crypto space and its development as a formidable rival to established competitors like Ethereum. One of the factors contributing to Solana’s rally is the recent accumulation of the cryptocurrency by large investors, known as “whales.”

Additionally, Solana’s rise is supported by strong on-chain metrics, showing increased usage and a thriving environment. The price has frequently found higher lows, which is a bullish indicator in technical analysis.

Furthermore, Solana represents a considerable portion of the global decentralized finance (DeFi) TVL statistics. So far, Solana DeFis have already attracted more than $4 billion in investments.

Is Ethereum next?

Many investors are wondering if Solana’s performance against Binance Coin portends a possible challenge to Ethereum’s dominance. Currently, Ethereum’s market capitalization stands at $430.2 billion.

Before the Dencun upgrade was rolled out last week, Ethereum had long struggled with scalability issues and high gas fees, limiting its ability to successfully scale for widespread adoption. This provides a basis to switch to Solana if the Dencun upgrade does not provide the expected results.

Related
Solana (SOL) Surprisingly Invests Ethereum (ETH) in DEX Volume

A previous report from Guru-Investingshows that the DeFi ecosystem underwent a major transformation as power shifted between Solana and Ethereum. At the time, DefiLlama data showed that Solana had surpassed Ethereum in terms of total decentralized exchange (DEX) volume.

Meanwhile, Solana’s improved scalability and cheaper transaction costs make it a strong competitor to Ethereum. While Ethereum’s recently released Dencun upgrade aims to address some of these scalability difficulties, it remains to be seen if it can compete with platforms like Solana in the near term.

Leave a Reply

Your email address will not be published. Required fields are marked *

Best Exchanges
Buy, trade, and hold 600+ cryptocurrencies on Binance
Buy, trade, and hold 450+ cryptocurrencies on ByBit
Buy, trade, and hold 150+ cryptocurrencies on Kucoin
Buy, trade, and hold 100+ cryptocurrencies on BitFinex 
Buy, trade, and hold 150+ cryptocurrencies on CoinBase

Guru Investing is an independent source of information about investing , not controlled by any broker. All our reviews and guides are created honestly, according to the best knowledge and judgement of the members of our independent expert team; however, they are intended for informative purposes only and should not be construed as, nor relied upon as, legal advice. You should always make sure that you meet all regulatory requirements before making any financial operations . Copyright ©2024 Email for contact [email protected]
follow telegram
pornhd.com hindisexyporn.com kashmiri girls sex jayasex indaporn.info desi bhabi xxx xlnindia sexo-vids.com 1st time sex video たかはししょうこ動画 javfuck.mobi 真正中出し3本番 彩乃なな sex film sexy film xxxhindividoes.com xnxx indian teens
ano nga ba ang pangarap iwantmoreteleserye.com hello heart episode 3 reshma hot saree images nuporn.mobi xvidies com bihar chudai tubezaur.mobi heroine photo hot dasixx hardcoreporntrends.com ileana d'cruz hot photoshoot www.xxxsexvideo.com xbeegtube.mobi hindi movi
www sxe vidoes erohardcore.info boops sucking dehati fuck kitporn.info chuk chuk rail fuckcomix.com mojoporntube.net gujaratisexvidio probinsyano october 18 2021 full episode freeteleseryetv.net ang probinsyano july 14 2022 قصص سكس كرتون cmsextra.net سكس بنات تخينة