Solana has performed well in the past 2 years and has become one of the fastest growing altcoins; in 2022, we will see how they can do many things that tokens cannot do.
Few people are in the same category as Solana, so let’s take a look at what the token is here and what might happen in the future.
Solana briefing and its rise in 2021…
In short, Solana is a public blockchain platform. It uses a proof-of-stake mechanism to reach consensus. Its internal cryptocurrency code is SOL. In 2021, Bloomberg reporter Joanna Ossinger described Solana as a “potential long-term competitor to Ethereum”, citing its superior transaction speed and lower associated costs.
Last year was a pretty good year for Solana ($SOL), as many early investors saw more than 45,000% gains in 2021-which promoted Solana to become the top 10 cryptocurrency. Altcoins ushered in a year of vigorous development, and Solana is no exception. The project has a unique blockchain that uses a combination of “Proof of Stake” and “Proof of History”. This means that transactions are processed in order, which enables very fast and very low-cost transactions.
SOLANA hit a 10% drop this past week. SOL-USD on TradingView.com
Solana also made headlines as Visa is preparing to launch their fast track program. According to press releases in recent months, Zebec is the first Solana-based project accepted by Visa, which supports companies such as Stripe, Chime, and Crypto.com. The following is a statement from Sam Thapaliya, founder and CEO of Zebec Protocol:
“By joining Visa’s fast-track program, Zebec Protocol and other exciting financial technology companies have obtained unprecedented Visa expertise, technology and resource opportunities. From payroll to investment, subscription, rewards, etc., Zebec has made it programmable and continuous, Completely reimagine every financial transaction. We are happy to work with Visa to accelerate the process of bringing our innovative payment solutions to millions of users around the world.”
Good and bad…
Many investors are happy to see what Solana brings, because recent research shows that a survey of 30 random crypto token holders shows that 10 hold Solana tokens instead of larger tokens.
Although many celebrities in altcoins have seen a surge throughout 2021, for most (if not all) top altcoins on the market, 2022 will be difficult. The price of SOL has been bad for the bulls recently. In the past 9 trading days, SOL has fallen by nearly 30% from a high of nearly $205. Having said that, compared with the buying pressure at the low point, the selling pressure at the high point is insignificant, which is a sign of hope for the near future.