2023-12-25
Solana has become 4th
largest crypto by market cap by dethrone BNB Chain. SOL has flipped BNB, making
BNB dropped to the fifth most valuable crypto by market cap.
SOL price as of Dec 25, 2023 is $112
per SOL. Solana current market cap is $47 billion and fully diluted market cap
is $63 billion.
FTX filed Chapter 11 bankruptcy on Nov
17, 2022. FTX was the main supporter of SOL tokens as well as Solana ecosystem.
As of August 2023, FTX holds 59 million SOL tokens. 59 million SOL worth $6.6
billion as of Dec 25, 2023.
How much did the price of SOL increase
since the collapse of FTX?
After FTX collapse in November 2022.
During late November and December 2022, SOL price was around $14.
The price of SOL has increased 700%
since FTX collapse from $14 to $112.
If you bought SOL at $14 for $1,000,000,
the purchase would worth $7,000,000 at $112 per SOL.
Why Solana flips BNB to rank number 4
largest crypto?
1. Cheap transaction fee.
Solana transaction fees are the
cheapest among all blockchains. Solana average transaction fee is $0.00025 per
transaction.
Cheap transaction fees are good for
Web3 games and NFT trading,
2. Fast transaction speed.
Solana network takes 6-12 seconds to
process a transaction.
3. Solana has large block size.
Solana network is designed to be
scalable; it can process 65,000 transactions per second. Solana currently
process about 3,000 transactions per second.
3. Solana can solve network outage
problem.
Solana recorded only 1 outage in the
first half of 2023.
4. Solana has good infrastructure.
NFT
Magic Eden is an NFT marketplace that
developed for Solana blockchain.
Solana is the third most widely used
blockchain by sales volume only after Bitcoin and Ethereum.
Lending platform
Solana has Solend as its lending
platform.
Decentralized exchange
Raydium is Solana’s decentralized
exchange.
Liquid staking
Marinade Finance and Jito are Solana’s
liquid staking platforms.
5. Easy to develop
Solana uses Rust as a programming
language.
