Forget the ether! Solana will become a big “bitcoin killer” in 2022

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Solana will give ethereum and bitcoin stiff competition in 2022 and beyond

Growing demand for bitcoin has sparked a rally in one of its biggest competitors, Solana. Although SOL is often referred to as the “Ethereum Killer” for the narrow skill that cryptocurrencies follow, the recent trend of Solana could give her an idea in 2022 and make her a “Bitcoin Killer”. If the trend is beyond 2022 in the future, then Solana has a good chance of grabbing the two main cryptocurrencies.

Solana’s price saw a whopping 17,000% growth in 2021 alone, making it the fourth largest cryptocurrency in the top 10. But SOL didn’t peak like that. He gradually rose through the ranks of altcoins to capture his place of currency. Solana started the year at US $ 1.5, which now stands at almost US $ 260. The digital token is now valued at US $ 64 billion and much anticipated developments are underway. In addition, Solana’s technology makes it very competitive against market leaders, Bitcoin and Ethereum. Although the market trend has characterized Solana as very volatile with risk factors, her incredible growth makes investors think otherwise. On the other hand, Ethereum is also doing well in the market. Unfortunately, this cannot be a straightforward “Bitcoin Killer”, as ETHER’s trend mostly follows BTC’s footprint. Therefore, experts predict that Solana will give ethereum and bitcoin stiff competition in 2022 and beyond.

Solana’s journey

Launched in March 2020 by Anatoly Yakovenko, the Solana coin and network have been specially designed to focus on smart contracts and building decentralized applications (dapps). One of the biggest advantages of the SOL network is that the digital token can work on both the Proof of History (PoH) model and the Proof of Stake (PoS) model. While PoS helps users in the verification process, PoH keeps track of the time and day of the transaction in the record. Compared to the process of mining Bitcoin and Ethereum, SOL is fast because it can complete more transactions per unit of time and has significantly lower fees. Some of the other must-have factors of Solana are,

The number of projects executed on a network also contributes to its growth. While Ethereum has the first player advantage, SOL is also catching up with it by adapting the game. Solana now has over 350 projects running in its ecosystem. The price of Solana saw an astonishing 17,000% growth in 2021. The numbers are expected to increase further in 2022 and beyond. Investor interest in finding an alternative to Ethereum has made SOL the best “Ethereum Killer”. However, things are set to change in 2022 as investors are now looking for a potential competitor to bitcoin.

What factors make Solana the best Bitcoin competitor?

The mining model: Recently there has been a buzz around BTC for its extreme power consumption during mining. World leaders and even countries like China have strongly criticized the digital token for managing the environment. Therefore, investors are looking for more environmentally friendly cryptocurrencies such as Solana. The combination of PoS and PoH can make transactions much easier and faster with less impact on society.

Acceptance on Multiple Crypto Platforms: Besides being the first cryptocurrency to emerge, bitcoin is also famous for its wide acceptance on many crypto exchanges. Currently, SOL is also in line with BTC to gain acceptance and adoption by the general public. In June 2020, the network announced that Solana would be listed on Coinbase Pro, a major crypto exchange. Following this news, other crypto trading platforms have also opened their doors to SOL.

NFT and smart contracts: Although ETHER has introduced smart contracts into the virtual ecosystem, the network confession has led people to seek alternatives. Fortunately, Solana is always there to help you. In addition to being successful in smart contracts, SOL is also attracting attention in the NFT sphere. Solana’s NFTs allow buyers to enjoy faster transaction speeds at lower fees.

Solana price prediction for 2022

Since its inception, Solana’s price hovered around US $ 1 until January 2021. During the crypto rally in May of this year, SOL reached US $ 58.30 but fell back to US $ 22.18 in July. However, his rally in September was incredible. The cryptocurrency climbed in September and also continued to follow the trend in November. Currently, Solana’s price is trading near the US $ 260 mark.

According to WalletInvestor’s forecast, SOL is expected to cross US $ 275 by the end of 2021 and the uptrend will continue to grow. By the end of 2022, Solana has the potential to earn US $ 772,726.

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