Saturday, December 10

Solana’s 30% Weekly Growth Adds $3 Billion To Its Capitalization And Also Put Cardano And Ripple Under Pressure

According to CoinMarketCap, Solana takes 9th position in the total market cap giving up to Cardano, Ripple, BNB Chain, Ethereum, and of course, Bitcoin as the coin gained up to 30% in 7 days. This performance added $3 billion to its capitalization. 

Read Also: Lotus, The Iconic British Performance Car Brand To Launch Its NFT In Partner With Ripple

A little addition to Solana’s price

Whenever SOL adds another  $10 to its price per token, Solana will see itself in seventh place, with both Cardano and Ripple behind it. Rising of SOL price by another 35% may be worth what someone bid on, considering the pace at which SOL is rising and the performance of its closest rival in the market cap.

Although according to CoinMarketCap, the impressive growth of the SOL price can be attributed to its 7-day performance, do not let yourself be misled. The fact is, the rise truly did not start until Sunday, June 18, at $27.20 per token.

Source: CoinMarketCap

SOL is now trading above that level by 5% at $37.7.

Read Also: Ethereum Developers Can Now Have Technical Insight Into What to Expect In The Full Merge As Sepolia Testnet Beacon Chain Go Live

Performance Declination Resolved

Some days back, the problem of performance declination was traced to the performance bugs in the blockchain, specifically in the transaction processing unit (TPU). During those times when the system was down, the number of transactions processed per second dropped from thousands to just tens. Because of this, Solana developers came together to think of how to eradicate the issue and they came up with replacing the UDP with Google’s QUIC protocol in the new update that came after they have attempted to normalize the operations around the platform’s existing user datagram protocol (UDP).

Share this:

2 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *