Chris Curl,
Editor
Oct. 3, 2024
Since its launch, Solana's price skyrocketed by 1,390%, significantly increasing in value and reaching a market cap of $70 billion, the fifth largest.
Why?
A big reason was Solana’s focus on speed and efficiency, utilizing a novel proof-of-history mechanism that complements its proof-of-stake architecture, enabling it to process up to 50,000 transactions per second.
This speed parallels that of established payment processors like Visa.
Despite its innovative edge, Solana's value is still subject to market volatility, experiencing dramatic fluctuations in recent years. This is the norm for new technologies like blockchain. As the adoption curve for new tech grows, this volatility naturally goes down.
Even with crypto’s inherent volatility, Solana's efforts to create compelling use cases, such as its web3-based smartphone and Solana Pay, highlight its potential in the burgeoning digital economy.
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In fact, it was Solana’s excellent user experience that prompted me to believe that it would become the preferred retail blockchain.
This is exactly what happened with Solana’s DEX volume regularly exceeding that of Ethereum.
And even though I’ve made great gains with Solana and believe the future is still bright, a new Layer 1 blockchain has caught my eye.
I think it could be the Solana of this cycle.
With a unique ability to handle multiple transactions simultaneously, this blockchain benefits from the Move programming language, which creates an extremely efficient development environment.
It boasts a transaction throughput of 297,000 TPS, surpassing Solana's 65,000 TPS, though such performance isn't yet a necessity and hasn’t been tested in real-world applications.
Recent growth in daily active addresses and successful collaborations, such as the introduction of USDC by Circle and partnerships within the 3D printing sector, underscore its increasing adoption.
The Total Value Locked has reached over $1 billion, demonstrating growing market confidence.
While this blockchain's trading volumes are smaller compared to Solana, its innovative trajectory and expanding ecosystem present a very compelling investment opportunity.
I sent out a purchase alert last month to my Crypto Cycle readers to buy this blockchain immediately.
Since then it has already surged over 120%.
And given where we are in this current crypto bull market, I see massive gains ahead for this innovative new project. Its momentum is incredibly strong, even with Bitcoin selling off earlier this week.
For a limited time you can check out my full Crypto Cycle portfolio and purchase alerts for free by clicking this link.
Don’t miss out on this opportunity!
Keep coming back,
Chris Curl
Editor, Daily Profit Cycle