Solana is no longer just a challenger, emerging as a serious alternative to Ethereum. With high performance and increasing institutional interest, this blockchain could revolutionize traditional finance.
According to Matt Hougan, Chief Investment Officer at Bitwise, Solana is on track to become “Wall Street’s new star.” Indeed, this ultra-fast and scalable blockchain is increasingly attracting the attention of institutional investors who see tremendous potential for asset tokenization and the development of stablecoins.
Traditional finance players increasingly recognize the strategic importance of stablecoins and asset tokenization. This technology enables the digital representation of real assets such as stocks, bonds, or real estate on the blockchain. It offers numerous advantages including reduced transaction costs, faster execution speeds, and increased accessibility for investors.
According to Hougan, Solana’s main strength lies in its speed and ease of use, two essential criteria for financial institutions. The transaction finality time on the Solana network is now just 150 microseconds, compared to 400 previously. This performance greatly appeals to trading professionals, for whom every millisecond counts.
Moreover, Solana’s scalability and low costs make it an attractive alternative to Ethereum, the historical leader in stablecoins and tokenization.
Despite Solana’s rising momentum, Ethereum currently remains the dominant network in these areas. With 59% market share of stablecoins (65% if layer 2 networks are included), Ethereum’s blockchain maintains a significant lead.
Nevertheless, Hougan considers Solana to be a serious challenger, thanks to its leading technical performance.
Solana’s price has recently seen impressive growth, following the general crypto market trend. While Bitcoin reaches new heights, Solana isn’t lagging behind, with a 16.4% increase over the past 7 days, settling at $232. Despite this performance, SOL remains about 20% below its all-time high.
In the dynamic world of cryptocurrencies, Solana is gradually establishing itself as a serious alternative to Ethereum to become the new benchmark for financial markets. With its speed, simplicity, and growing appeal among institutional investors, this blockchain could potentially surge beyond $400 in the coming months.
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Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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