In this analysis, I will tell you why Solana is going to reach an all-time high in 2024. There is no doubt that the whales are buying because the trend is extremely strong, and this cannot be caused by some random guys on the futures market. We have a strong Elliott Wave base structure at the start of the uptrend, and exactly this gives us reliability for another wave to the upside. What are the resistances? 0.382 FIB, then 0.618 FIB, and then the previous ATH. Also, string high market as (X) are strong resistances as well. Boost + Follow for more ideas. Thanks. What Makes Solana Unique? One of the essential innovations Solana brings to the table is the proof-of-history (PoH) consensus developed by Anatoly Yakovenko. This concept allows for greater scalability of the protocol, which in turn boosts usability. Solana is known in the cryptocurrency space because of the incredibly short processing times the blockchain offers. Solana’s hybrid protocol allows for significantly decreased validation times for both transaction and smart contract execution. With lightning-fast processing times, Solana has attracted a lot of institutional interest as well. The Solana protocol is intended to serve both small-time users and enterprise customers alike. One of Solana’s main promises to customers is that they will not be surprised by increased fees and taxes. The protocol is designed in such a way as to have low transaction costs while still guaranteeing scalability and fast processing. Combined with the longstanding professional expertise creators Anatoly Yakovenko and Greg Fitzgerald bring to the project, Solana is ranked number 7 in the coinmarketcap. This came on the back of an impressive bull run, where Solana price gained over 700% since mid-July 2021. The launch of the Degenerate Ape NFT collection sent SOL price to an all-time high (ATH) above $60, and it has been climbing since, largely due to higher developer activity on the Solana ecosystem, greater institutional interest, growing DeFi ecosystem, and the rise of the NFTs and gaming vertical on Solana. Solana price rose to an ATH of $216 on Sept. 9, 2021. Solana has received much praise for its speed and performance, and has even been tipped as a rival that can compare to Ethereum and challenge the dominant smart contract platform. However, the network has been plagued by repeated outages that have impaired its price and aspirations to be the “Visa of crypto.” Furthermore, its ecosystem is accused of favoring venture capital investors with unfair tokenomics.
Solana, New All Time High In 2024. Why? For BINANCE:SOLUSDT By Magikan – WorldNewsEra
