Solana News Today: Solana SOL price moons

Solana News Today: Solana SOL price moons
4 min read
12 September 2021

Solana is what some   people refer to as an Ethereum killer. It’s a next  generation smart contract platform that sacrifices   some decentralization in exchange for  ultra fast and low cost transactions. 

There are tons of smart contract platforms that  offer those features but one of the key factors   that sets Solana apart from the competition is  their integration with the crypto exchange FTX. 

FTX built the decentralized derivatives  exchange Serum on top of Solana, and FTX   is also using Solana for stablecoin payments.  Sam Bankman-Fried, FTX’s CEO, is also a big   believer in the Solana blockchain and in January  of this year he sent out an iconic Tweet. Quote, 

I'll buy as much SOL as  you have, right now, at $3.  Sell me all you want. Then go F off.

Assuming that Sam actually did fill his SOL bags  at the time of the tweet, he’s definitely doing   well for himself now that Solana is trading  close to $200. Solana News Today: Solana SOL price moonsIn fact this epic price run   was enough for Solana to flip XRP and steal its  number 6 spot in the crypto rankings.

Currently,   Solana has a $56 billion market cap as  compared to XRP’s $46 billion market cap. 

In terms of adoption there are a lot of  well-known Solana and FTX supporters,   or as the Solana community calls them,  Ambassadors. For example, Steph Curry, the point   guard for the Golden State Warriors, has agreed  to be a global Ambassador for the FTX brand.  Tom Brady has also signed on  to be a FTX ambassador, which   is a pretty big deal. Arguably FTX’s most  impressive marketing success so far though   is getting the Miami Heat to rename  their stadium as the FTX arena. Solana News Today: Solana SOL price moonsHopefully these marketing efforts  pay off since what’s good for   FTX is good for Solana, and vice versa.   

While a vast majority of all NFTs are traded  on Ethereum, a couple of Solana based projects   are starting to attract attention. Aurory and  Degenerate Ape Academy are two popular projects   with the Degenerate Apes selling out all  10,000 characters in less than 10 minutes.   Solana News Today: Solana SOL price moons

One thing to keep an eye on is FTX’s new  NFT platform that they just launched on   Solana. The platform will let creators build their   own projects and the NFTs will be swappable  across chains, from Solana to Ethereum. 

Sam Bankman-Fried scooping Solana at $3 a coin  was about the best investment anyone can ever   hope to make. When he sent out his Tweet SOL  was trading at $3.30. Today you’ll have to fork   over about $175 if you want to get a token.  That’s a gain of around 5,000% in 35 weeks!  Where could Solana go from here? The price  chart looks like a classic blow off top, and   SOL has been going straight up for months, so a  correction would be normal and healthy.

However,   on a longer time frame there’s  still tons of upside left.  Some analysts have called for a $500  SOL by the end of year, however,   if Solana keeps rising at its present rate it  actually seems more likely that we could see a   $1,000 + SOL at some point in  the next six or eight months.  What’s your Solana price prediction, where  do you think SOL will be at the end of year?   

In case you have found a mistake in the text, please send a message to the author by selecting the mistake and pressing Ctrl-Enter.
Alex 9.9K
Joined: 4 years ago
Comments (0)

    No comments yet

You must be logged in to comment.

Sign In / Sign Up