Today is the day of Solana, the 11th largest altcoin project by market cap. 36% over the last 24 hours. 55 and 58% in the last 7 days. 45 rose. He recorded his ATH of $64.48 about 5 hours ago. During this period, he broke many records. We take a look at the levels SOL has reached and the goals of Solana Blockchain…
Altcoin Solana breaks record in TVL value
SOL has maintained the momentum it gained from $21,940 on July 20 for about a month, leaving the May 18 peak of $58. After these levels, its performance during the day is 57% in the last 7 days. It placed second after 77 growing XRP. About Solana, Chinese journalist Wu Blockchain, citing SOL’s recent milestones, noted in a tweet posted earlier today on saadollarser:
In the last 24 hours, SOL has increased by more than 26%, setting a new ATH. Solana public blockchain also set a new record with a lock-in volume of $1,854,341,405.74. Solana’s total transaction volume reached 24.1 billion transactions, many of which could be fake.
At the same time, reports reveal that new market participants think Solana Blockchain is a better choice. Also, there is increasing adoption of the Solana ecosystem as it facilitates communication between many Blockchains, including Wormhole, Solana, which was recently released and is the first bidirectional bridge connecting Ethereum to Solana. Meanwhile, Mago Markets, a DEX on Solana Blockchain, raised $70 million from a token sale last week. The success of Mago Market gives new players even more reason to consider the Solana ecosystem.
Analisdollarser predicted SOL’s new ATH
As we quote , SOL was expected to perform an ATH on August 15 and was confirmed by most analysts. At that time, SOL was an altcoin project that came to the fore with its high performance and increasing demand among the 30 largest cryptocurrencies by market cap. With an excellent 21% gain on Sunday (August 15), it strengthened ATH expectations for the majority of investors and analysts for today.
While Solana Blockchain currently processes around 50,000 transactions per second, its team is theoretically aiming to hit the 71,000 transaction limit. To achieve this, Solana Blockchain uses both the Proof of History (PoH) and the Proof of Stake (PoS) consensus mechanism. While PoH exponentiates most of the transaction process, PoS deals with the validation of blocks produced by the PoH transaction.
In this regard, the developers acknowledge that Wormhole facilitates simpler and faster solutions and also enables easy transfer of cryptocurrencies. Additionally, together with the Solana ecosystem, it helps transfer liquidity between Blockchains and provides easier transfer transactions. With the integrity of this ecosystem, Solana Labs, the leading firm behind Solana Blockchain, raised $314 million. Apart from that, Solana is supported by Sam Bankman Fried, CEO of FTX Exchange and some giants of the industry.