- The Solana network was subject to multiple glitches in a short period.
- Solana was recently referred to as “Visa of the digital asset ecosystem.”
Cryptocurrencies have had a rough couple of months. Since a Nov. 10 high of $2.87 trillion, the sector’s overall market value has fallen by 50 percent. The Solana network was subject to multiple glitches in a short period. As a result of a surge in computing transactions, the network could not handle the volume of traffic. It’s interesting to note that the network suffers from congestion despite the creators’ claim of 50,000 TPS.
Solana (SOL) is predicted to continue growing in 2022, despite the expected rise in the network’s use cases and expected adoption following a spectacular 2021. Moreover, the broad cryptocurrency market correction has delayed the asset’s development. Still, a segment of the ecosystem is already banking on a probable SOL price spike in the coming weeks, and it has already begun to.
Read More: Solana Price Prediction
High Expectancy to Outperform Ethereum
When it comes to the digital asset ecosystem, the Bank of America recently referred to Solana as “Visa of the digital asset ecosystem.” Solana has generally seen a rise in usage since its inception in 2020, with initiatives in DeFi, NFTs, Web3, and more hosted on the blockchain.
Many people of the crypto world feel that Solana, despite it being a relative newbie, will outperform Ethereum in the long run. Blockchain speeds and cheaper gas expenses are some of Solana’s present advantages. According to CoinMarketCap, the Solana price today is $105.21 USD with a 24-hour trading volume of $2,419,390,630 USD. Solana has been up 16.53% in the last 24 hours.
