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Solana continues her growth unhindered

SOL is now in seventh place on the CoinMarketCap ranking

Solana continues to grow with a practically irresistible rhythm, overwhelming every possible obstacle. After taking eighth position on CoinMarketCap's capitalization ranking over the weekend, SOL has now climbed to seventh place, proving that it still has enough strength to continue its march. Which led her to break through $ 47 billion in terms of market capitalization. That is triple the price of three weeks ago. A growth rate which could soon lead Solana to undermine the podium, in particular the lowest step, currently held by Cardano. And not only that, according to forecasts from various parts.

Solana - Solana continues her growth unhindered

Solana, a seemingly irresistible march

Over the past 24 hours, Solana has posted an increase of 13,34 percent. Consequently, bringing the growth recorded in the last week of trading to almost 50 percent. Consequently highlighting the highest bullish trend ever in the context of Altcoins.
A behavior which pushed Bloomberg to an important prophecy: in short, the token should even be able to compete with Ethereum. To push it in this direction would be in particular its growing ecosystem, so much so as to attract a large number of projects, in particular those that can be traced back to the mania for NFT (Non Fungible Token). A market in which Solana has recently made a very important move, launching solanart.

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The great speed and convenience of the Solana blockchain

Another factor which is considered to be the basis of Solana's great growth is the speed of his blockchain. Able to get to 50 thousand transactions per second, made possible by the use of the Proof-of-Stake consensus mechanism. Which is coupled with convenience in terms of costs. According to his website the average cost per operation on its network would be $ 0,00025.
These are two characteristics of no small importance, considered as the slowness of transactions and the exaggerated costs represent at the moment, at least until the adoption of the Proof-of-Stake algorithm instead of the current Proof-of is fully operational. -Work, the weaknesses of Vitalik Buterin's creation. Such as to have attracted a huge mass of capital for its further development. In June, the working group gathered around the project announced that it had collected well 314 million dollars during a financing round involving investors such as Alameda Research, led by Sam Bankman-Fried, the venture capital firm Andreessen Horowitz, coinshares e Polychain Capital.

The decisive function of Solanart

As mentioned at the beginning, the NFT market also favors Solana's propulsive motion. For which Solanart was launched, a market built on its blockchain. The success of the initiative was such as to push Alexandra Clark, trader of GlobalBlock, to state that leading players such as FTX and Jump have long recognized its potential.
While Jonathan CheesmanFTX's head of over-the-counter and institutional sales also stated that Solana is getting too big to ignore. Also because it is able to offer a smart contract solution different from that of Ethereum.
No less flattering is the opinion expressed by Antoni Trenchev, co-founder of Nexo. According to which the support of Sam Bankman-Fried, chief executive of theexchange of cryptocurrencies FTX, is proving decisive in the great growth of the price of Solana.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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