Solana is one of the best performing cryptocurrencies of the day with a gain of 13% during the day as well as during the past week. The token has become the fifth largest cryptocurrency as the token vied for a new all-time high. The new all-time high has been recorded at $229.75 during the day. The current price of $229.61 skirts close to the ATH – indicating the bullish momentum has not ended and SOL token may re-establish its ATH. The token has been under the influence of bulls since September; however, the momentum only strengthened towards the end of October.
Recent developments to watch out for
Solana is regarded as one of the “Ethereum Killers”. The cryptocurrency’s architecture bears similarities to Ethereum’s but also incorporates various new technological innovations. While competing with the queen of the market is not an easy task, the competitors of Ethereum also have to compete each other. Up till now, Charles Hoskinson’s Cardano was regarded as the true Ethereum Killer being ranked the highest in terms of competitors; however, this is not the case anymore.
Solana has overtaken Cardano and now stands at the coin’s rank in the market – at fifth position. SOL token’s market capitalization is at $65 billion compared to Cardano’s $63 billion. Moreover, ADA has been bearish ever since its price rally caused by the launch of smart contracts and is tumbling away from its ATH while SOL is on a roll – reaching higher and higher.
CryptoGames is the first cryptocurrency-based online casino to offer Solana as a medium for online gambling. SOL became the tenth crypto to be offered by the online casino. The token can now be used for deposits, withdrawals and making bets. As it is the first instance, the cryptocurrency has ventured into the online casino market, this step will surely unlock many opportunities for SOL. The announcement is also expected to boost the cryptocurrency.
Solana Future outlook
The recent performance of Solana coupled with the developments going on in the network is pushing the token towards a strongly bullish future outlook. If the current performance is sustained in the upcoming days, SOL can break many more major resistance levels and realize its bullish price predictions. According to the estimates of Wallet Investor, the cryptocurrency is expected at a price level of $539 in a year’s time while the five-year projection places the token at $1863. Digital Coin Price is a little less optimistic for the coin but predicts the price to rise to $834 by 2026.
