Solana breaks $90, overtakes BNB as new altcoins rise – Business News
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As altcoins surge, Solana (SOL) is proving to be a tough Ethereum (ETH) competitor after overtaking BNB in fourth place.
Solana overtakes BNB, Ethereum?
SOL has seen a strong month, rising from $54.17 on November 28 to $99.12 by December 22.
Currently at $91.6, its $38.9 billion market cap puts the token in fifth place, just below BNB.
SOL overtook BNB on December 22 – SOL reached $41.9 billion, more than BNB’s $41.8 billion.
Still, SOL remains 64% below its all-time high of $260.06.
Solana saw many positive developments this year, such as with multinational giants visa Choosing your network to support USDC settlement.
New features like state compression dramatically cheapen the cost of storing/minting NFTS on their blockchain.
Their new token-2022 standard enhances privacy protections and implements royalty payments for NFT creators, and their new validator client, FireDancer, has gone live on their testnet.
It is set to increase the network’s limit to one million transactions per second.
Solana’s new $10 million grant will sponsor teams conducting research and development at the intersection of blockchain and artificial intelligence (AI).
With gas fees being cheaper than Avalanche, many crypto analysts like Z Monopoly remain bullish.
He believes that once the spot Bitcoin ETF is approved, more money will flow into altcoins, and many new investors will look for a viable alternative to ETH.
Bitcoin minetrix may trend in 2024
Amid the SOL trend, investors are also keeping an eye on Bitcoin Minetrix.
It aims to provide a unique decentralized, token-based cloud mining service.
This innovation allows you to mine Bitcoin (BTC) effectively and securely while dealing with the problem of confusing third-party cloud mining operations.
It achieves this by giving token holders direct control over the mining process. Holders can stake BTCMTX, the native token of Bitcoin Minetrix, to earn credits for mining BTC.
BTCMTX is trading at $0.0124 in the current presale, which has seen a raise of over $5.7 million.
Of the four billion BTCMTX, 77.5% has been allocated to the public. 39 planned incremental price gains are set, with the token price rising from $0.0117 to $0.0124 on December 22nd.
This strategy is designed to attract early investors by offering more attractive prices before BTCMTx gets listed on crypto exchanges.
Be sure to check them out X (Twitter) And telegram for latest updates.
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