Solana has been on a tear, and some analysts believe it could give Ethereum a run for its money in 2024. Here’s why Solana is seen as a serious contender for blockchain dominance.
Unmatched Speed and Scalability
Solana’s ability to process over 65,000 transactions per second makes it one of the fastest blockchains in existence. This makes it highly attractive for developers, especially in the DeFi and NFT space.
Lower Fees Than Ethereum
With Solana’s transaction costs being a fraction of Ethereum’s, projects are shifting to Solana. This migration could significantly boost SOL’s price in 2024.
Institutional Backing is Growing
Solana has attracted institutional investors, including some major players from Wall Street. This backing is crucial for SOL’s continued price growth and market adoption.