Solana or SOL has been around for a while now. But recently the price and demand for the token has been on a brand new tear to over $100 each from it's normal steady price of just $20. This is one of those 4x tokens you would see during a bull run. Again I hate to tell you all but we are in the bull run so stop waiting around lol.

SOL has now flipped XRP and even BNB as the next big blockchain and it kind of makes sense. It's very possible we could maybe see SOL reaching upwards of $200 during this bull run (Of course that's just speculation and not financial advice)

If we space out even further though we can see just how well SOL did during the last bull run as well. Making this $100 price tag look like a bit of a drop in the bucket from it's new potential.

This is mainly because the two tokens that SOL just flipped have two very major issues with them.

The first XRP got a lot of attention by winning their lawsuit against the SEC. However during those years nothing was really built on XRP and most people stayed away from it being that it was under such hard oversight by the SEC and governments. It honestly scared a lot of developers away because honestly no one wants to deal with that BS it's time and money expensive. Thus we got a spike on XRPs price from investors only but there's very little in terms of applications and swaps etc for the XRP token.

Moving on to BNB we also have heavy oversight and the SEC all over BNB lately causing a once power house of a blockchain to start become something people don't really want to mess with.

BNB held good value mainly from it's smart chain in which allowed for DeFi and games for much lower fees than that of Bitcoin or it's more popular option Ethereum.

What's Driving SOL

SOL prides itself like many other blockchains as being faster and low transaction fees something that often holds up other blockchains like Bitcoin and Ethereum.

It's only natural that the market was looking for a solid solution to get away from BNB in light of the recent lawsuits and SOL seems to be the ecosystem that's gaining that attention.

It's most likely not long we will see even more applications now launch on SOL such as NFTs, Games, DeFi and other applications but being that there are still some fees involved even though very small still makes it not a great option for something like a social blockchain. Instead a feeless style blockchain like Hive or a layer two token built on Hive would be a much better solution for that style of application.

It's clear though as long as SOL doesn't hit major blocks soon such as the SEC stepping in to declare it a security etc then SOL is rather well positioned to be a solid replacement for BNB and perhaps the DeFi world.

It's also important to note that SOL is it's own layer one solution blockchain and not a layer two of Ethereum like Polygon is to Ethereum. This gives it even more power in terms of demand for people and wanting to explore the options of the chain and how much it can really handle. It's pretty wild that even years later max transactions are still a issue for many blockchains causing record high transaction fees and a stagnation effect on the blockchain.

Posted Using InLeo Alpha