Institutional investors are continuing to stock up on cryptocurrency, despite the unexciting moment in the sector. If purchases related to Bitcoin ed Ethereum, however, there is a token that is surprising in this sense. We are talking about Solarium, which according to the data provided by Coinshares, in the course of 2021 it was literally raked from this particular audience.
The figure is quite surprising, in light of the fact that it is a project born about a year ago. A fact that hasn't discouraged funds though, if you think that In the last month alone, 43 million dollars have been allocated by them to the purchases of SOL.
Solana: What is happening?
Solana can be considered an emerging cryptocurrency, considered as it certainly cannot boast a past like that of BTC, just to name a name. Precisely the fact that it is only in the initial phase of its journey leads us to be amazed by the data released by Coinshares.
As we recalled, in the last month alone, institutional investors have purchased tokens for a value of 43 million dollars. That is to say more than half of what was destined for Ethereum (80 million), which, however, has a much longer history and is now entering its full maturity.
A currency that goes against the trend
If the news in question is surprising enough, however, it must be emphasized that SOL is in fact a continuous surprise. Its growth, in fact, also takes place in adverse market conditions and it seems to know no obstacles.
Suffice it to say that at the beginning of September he had achieved the seventh position in the ranking of CoinMarketCap relative to market capitalization, reaching a record value of $ 47 billion. In the following two months, the token took only a few short intervals to catch its breath, inexorably continuing its growing trend. So that it currently ranks fifth, with almost 60 billion in capitalization.
Why does Solana keep growing?
Naturally, Solana's continued growth has aroused an increasingly pronounced curiosity on the part of analysts and cryptofans. Who have wondered what are the reasons behind this trend that seems inexhaustible. Many have identified the main one in the fact that the project is best positioned in a particular sector such as that of decentralized finance.
According to others, the company was rewarded by the Proof-of-Stake choice as a consent algorithm. Especially at a time when environmental concerns are on the rise, having preferred it to the Proof-of-Work energy eater turned out to be an absolutely wise choice.
Another decisive factor was instead identified in solanart, the market built on its own blockchain for the sale of NFT. Which mixed with the previous factors, giving SOL the propellant necessary for a continuous bull run.
Could Solana Grow More Than Bitcoin and Ethereum?
The Solana trend is also pushing some observers to formulate forecasts which, at the moment, seem sensational. Including that relating to the overtaking that the project could carry out in the future against two totems in the sector such as Bitcoin and Ethereum.
In particular, it has recently become unbalanced in this sense Smart contracter, a trader considered to be a real influencer. According to which its target price should be positioned at $ 900. To better understand the enormity of this forecast, it should be remembered that the token currently stands at around $ 197, while its all-time high is 216.