News Crypto and cryptocurrencies

Solana continues to break record after record

The trend is favored in particular by the growth of interest from institutional investors

Solana is in a time of extraordinary growth. What is considered one of many Ethereum killer, among the most accredited in this sense, is in fact breaking one record after another, continuously updating its maximums.
The last in chronological order is that of dollars 88,23, which came after SOL had given rise to growth in the order of 22% within a few hours. A pace which, moreover, seems destined to continue over the next few days and which could allow him to improve the tenth position currently held in the ranking of CoinMarketCap relating to market capitalization.

Solana - Solana continues to break record after record

What is Solana and why is it so important

Like Ethererum, la blockchain of Solana uses smart contracts. That is, lines of code which execute "if-then" statements similar to the IFTTT productivity tool, adapting them to the world of cryptocurrency. Thus enabling the creation of financial services and decentralized apps on the network.
On its blockchain, in particular, SOL, the native token that uses a Proof of Stake consensus mechanism (PoS). A peculiarity of no small importance, as it is considered much more performing in terms of speed and safety than the Proof of Work (PoW) typical of Bitcoin and, at least for now, of Ethereum.
Solarium at the moment it is able to handle about a thousand transactions per second and its developers claim that the figure could theoretically rise by 50 times. To understand better, just remember that Ethereum stops at just about fifteen transactions per second. A difference destined to weigh heavily in the future.

The strong institutional interest in Solana

Behind the sensational exploit of Solana, however, there are not only the great potential of the project. On the contrary, at this moment, the growing interest of institutional investors is rewarding him. Starting with the digital asset management company Osprey Funds, which beat the industry giant over time Grayscale, presenting on the markets theOsprey Solana Trust, a token-based investment product that was registered on Tuesday at Securities and Exchange Commission (SEC) of the United States.
However, Osprey Funds and Grayscale shouldn't be the only ones turning their attention to Solana. Therefore, it is intended to benefit from the driving force that the attention of institutional investors usually contributes to pouring on the projects in question.

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The growth of scams does not harm the entire industry

As is now known, the cryptocurrency sector has also been the subject of for some time now scams sensational. The last of which is the one implemented through Moon Yield, a decentralized finance project which involved a large number of people, resulting in a loss of $ 6,7 million.
The operation carried out in this case is indicated with the term of roll pug, consisting in practice in the promise of very high returns, as a result of which the most naive users invest their money, seeing them vanish with the closure of the platform launched as the classic bait.
The only redeeming feature of this kind of scam is that savvy investors don't decide to throw the baby out with the bathwater. Instead, opting for the most serious and promising projects. A group which obviously also includes Solana, towards which the interested gazes of many traders looking for profit opportunities are converging. As demonstrated precisely by the impetuous growth recorded by its listing over the last few days.

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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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