The Solana cryptocurrency is one of the most striking currently in the crypto asset market, not only for its valuation and potential for rise -which is based mostly on the patterns it has been having in the past-, but also for how the project itself works.
And it is called to be the main blockchain network in the world -a place that today is occupied by the Ethereum network- thanks to the fact that its operation is faster than that of the rest of the available projects.
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But is this fact enough factor to say that cryptocurrency should be considered one of the most important in the world? How does this blockchain network work? We answer all this below. HOW SOLANA WORKS
The first thing to understand is why Solana is considered a blockchain network superior to the rest of the available projects –such as Ethereum (ETH) or Terra (LUNA).–
This is because the realization of smart contracts on Solana’s blockchain network occurs at a rate of more than 50,000 transactions per second (TPS) – with programmers ensuring that it could reach up to 700,000 TPS if the number of users is increased.
In other words, it can carry out operations extremely quickly and this means that the cost of processing them is also low – with the same currently hovering around $ 0.01. HOW MUCH SOLANA IS WORTH
With all this in mind, it is important to review what is the current value of Solana as well as how its price has been varying in recent times to be able to define if it is an interesting investment or if you should wait even longer before putting money into it.
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Today, a Solana token (SOL) is worth $81.87 according to CoinMarketCap.com data, while its market capitalization is $26 billion – which puts it within the top 10 cryptocurrencies with the highest volume in the world.
At the historical level, the price of SOL is currently positive at the annual level – for this same date in 2021 it was worth $ 14.8 – while at the quarterly level it is in the red, since its price fell since it touched its ceiling of $ 258 on April 11 last year. IT IS CONVENIENT TO INVEST IN SOLANA
With all this in mind, it can be determined if it is convenient to invest in Solana currently or if it is better to wait for the moment for the cryptocurrency market to stabilize again and begin to show symptoms of recovery after its fall in recent months.
If you take the fact that cryptocurrency has already lost more than 3 times its current value since its last peak and that it is still one of the cryptos called to “revolutionize the smart contract system”, then it seems that this asset would be an interesting investment for the future.
If we add to this that the main cryptocurrencies – which are ETH and Bitcoin (BTC) – have been showing symptoms of recovery after their fall during the past months – mainly since Russia’s invasion of Ukraine – then there are even more reasons to expect a rise in the price of SOL in the coming months.