Why Solana Will Outperform Ethereum and Polygon
If FTX owns a significant portion of your tokens, you might assume that your project is in trouble or that it’s worthless. However, this is not the case for Solana. Despite FTX holding a large stake in Solana and the potential sale pressure on its tokens, the price of Solana has actually increased by 17% in the last three months. Additionally, the average token unlock for these tokens is not until the end of 2025, indicating that the worst may be over for Solana.
One reason why Solana has the potential to outperform Ethereum is its focus on NFTs. While the market for NFTs on Ethereum has been shrinking, Solana’s NFT market is growing rapidly. In Q3 alone, Solana minted 45 million NFTs, a 316% increase from Q2. This growth is significant and shows that Solana’s NFT community is expanding while Ethereum’s is contracting.
Solana is also experiencing growth in its DeFi total value locked (TVL), while Ethereum’s TVL is shrinking. In the last 90 days, SOL’s TVL has increased by 32% to $368 million, placing it eighth among all chains. In contrast, Ethereum’s TVL has decreased by 10.31% in the last 30 days. This growth in Solana’s DeFi ecosystem indicates its strength and potential.
Another advantage of Solana is its super low transaction costs. In Q3, the average transaction cost on Solana was $0.0002, making it incredibly affordable compared to other cryptocurrencies. This low transaction cost is especially important for regions like India and Sub-Saharan Africa where weak currencies and low incomes make even small fees expensive.
In contrast to Ethereum’s changing rules and centralized decision-making process, Solana appears to care more about its community and avoids making changes that solely benefit its stakeholders. This approach sets Solana apart and makes it a more appealing choice for those who value decentralization and community involvement.
While Polygon offers faster and cheaper transactions through its Layer 2 solutions, Solana’s growth in DeFi and its lower transaction costs give it an edge over Polygon. Despite Polygon’s recent growth in DeFi, Solana’s TVL has increased while Polygon’s has decreased.
In conclusion, Solana has several advantages that position it to outperform both Ethereum and Polygon in the next bull market. Its growing NFT market, increasing DeFi TVL, super low transaction costs, and community-focused approach make it a strong contender in the crypto space.
Hot Take: Solana’s Potential to Shine in the Next Bull Market
Solana’s impressive performance in terms of price, NFT growth, DeFi TVL, and low transaction costs indicates that it has the potential to outperform Ethereum and Polygon in the next bull market. While Ethereum faces criticism for its changing rules and centralized decision-making process, Solana prioritizes its community and decentralization. With its focus on NFTs and growing DeFi ecosystem, Solana is well-positioned to attract more users and investors. Additionally, its super low transaction costs make it an attractive option for regions with weaker currencies and lower incomes. Overall, Solana’s strengths make it a promising project to watch in the coming months.
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