Given that Solana is a fairly new and not even a year old blockchain we need to look at the amazing benefits it brings to the crypto world. One of these is a whopping 50,000 transactions per second beating every competitor hands down. Ethereum handles 15-25 transactions per second, Ripple with 1700 TPS, Bitcoin 4.6 transactions per second, EOS claims 50,000 transactions per second but not sure. Also, Solana's average fee per transaction is 0.00005 with global validators now at 689 and growing. You also have an impressive Solana ecosystem with great platforms like Binance, USDC, Crypto.com, Exodus and Atomic, Band Protocol, Bitfinex, Tether, Chainlink, Kin, Ledger, and the list goes on and on. I use Solana wallets and it amazes me how lightning fast the transactions are. I mean it literally sends my Kin the instant I press the send button it confirms and deposits instantly.
It is clear that Solana will be a huge competitor to Ethereum, Tezoz, Cardano, and other similar platforms. I am thinking that with such a low circulating supply with Solana of only 267,460,091 SOL, we could see a serious higher price at the end of this year.
My end of year price points for Solana: $900, $2,000 & $3,000
$3000 price target requires SOL to be 2x ETH and almost the same market cap as BTC. While I would love that to be the case, it seems really unrealistic. My gut tells me have another 2x in SOL before accumulation ends. So, like 90-100 range (though honestly 60 would be a reasonable end point). In the medium to long term, sure, no reason why we couldn't see a price spike to $80-100bill market cap. DOGE is 80bill, and ADA and XRP are in the 50bill to 70bill range.
altcoinb
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@Pixisu111, what you fail to see is the end price of Bitcoin over $250,000 or higher which will mean the marketcap for Altcoins could be well over $5 Trillion possible by years end. If this is the case I don't see why Solana could not command a current Ethereum marketcap.
Pixisu111
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@altcoinb, that had crossed my mind when I wrote the original comment. It's true that the total crypto market cap could go up a lot more in the near term, but I am less bullish. I think most people on here agree that your projection is very, very optimistic. I love SOL and I am a holder, not a trader.
I would love to be persuaded. Is there any underlying technical indicator that you are using to base your predictions on, or is it just tied to faith in the technology (which I also agree is excellent)?
Port_City_Tokenomics
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I love the doubters from May LOL anyone who is seriously into Crypto understands that SOL and AVAX with throughputs faster than Visa are the future. SOL and AVAX are amazing projects with real world applications. Period! I like your analysis and I for one hope its correct. If not 2021 then in the near future for sure!
altcoinb
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@Port_City_Tokenomics, for sure. You are right on the speed with Solana. I did not know this with AVAX. We are looking at insane gains with Bitcoin reaching for this amazing target of over 300k by years end for this bull cycle. Thank you for your comment, my friend.
tgjgold
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Which Solana wallet would you recommend?
I believe.
thanks!
altcoinb
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@tgjgold, they have a few; sollet.io & solong are the two that I use but sollet.io is the one I use the most