Solana smashes all resistance to reach ATH, why it could go much higher

Reynaldo Marquez

Last Updated: April 7, 2021 8:11 pm

2 mins read

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Smart contracts platform Solana has performed undaunted by the bears’ onslaught. In the past month, SOL has posted gains exceeding 92%. Its features and applications promise an extension in its uptrend.

Firm Sino Global Capital has published a report pointing out Solana‘s strong points. From its low latency, high performance, its operability with the Proof of History mechanism, Solana’s blockchain is capable of processing 50,000 TPS. Sino Global Capital stated:

(…) without compromising decentralization or security. Solana is uniquely positioned to gain market share from existing smart contract blockchains as well as attract new projects and users to the crypto/blockchain space.

In parallel, Solana users can leverage low fees averaging $0.0007 per transaction with a high level of composability that sets it apart from alternatives.

In the long term, composability in Solana’s blockchain could favor the growth of its DeFi ecosystem, much more so than in other platforms that will implement sharding and second-layer solutions. Sino Global Capital adds:

(…) composability with the entire layer 1 ecosystem. Without fiat onramps on any EVM layer 2s, new users must first transfer funds through Ethereum, costing (~$50 ), while the same onboarding on Solana costs less than 1 cent. Solana.

Solana’s interoperability with Ethereum

To achieve this, BSC has capitalized on its interoperability with Ethereum, low fees, and the broadening of its DeFi ecosystem.

Solana is a platform that offers low costs and speed of BSC, with greater decentralization, its blockchain has more than 600 validators. In comparison, BSC has 21 validators.

During the year, Solana is expected to be portable to Etheruem by receiving support for the EVM as a second-layer solution. Coupled with a more “simplified” user experience, a community of more than 25,000 contributors on GitHub, Rust-based smart contracts.

The firm claims that Solana has greater “accessibility” for new developers and huge potential to implement numerous use cases:

huge potential to build out a new class of decentralized applications that can only be made possible by a high-performance scalable blockchain. With Solana’s scalable processing capacity these use cases can thrive. (…) Decentralized projects for high-frequency trading, central limit order books(CLOB), derivatives, cloud computing, and cloud storage

Another key factor is the significant number of partnerships that have been consolidated around this platform and the DeFi projects that continue to emerge. For example, Audius, Oxygen, Serum, and others. Sino Global Capital concludes:

Solana fills a major performance gap in the world of blockchains while remaining decentralized and composable. A bet on Solana is a bet that one day we will need fully decentralized systems that can support thousands of high-value complex transactions per second and that the chain that can support that scalability and finality today will accrue significant value.

With a parabolic rise across the board, SOL reached an ATH with $27 in the 24-hour chart. However, after a small drop is trading at $26,13 with 8% gains during that period.

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

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