‘Ethereum Killer’ Solana Jumps to 6th Spot in Cryptocurrency Market

Altcoins News

The cryptocurrency linked to the Solana network has jumped to the sixth spot among the world’s top 10 largest crypto coins amid optimism that the blockchain could be a long term competitor to Ethereum.

SOL coin has tripled its value and has currently a market cap of around $43 Billion which is almost 4.55 Trillion rupees, according to CoinMarketCap. Currently, SOL (at the time of writing this article) is trading at the price of $210.

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Solana bills itself as the world’s fastest blockchain and its website said the average cost per transaction is $0.00025. Experts tout the claimed speed and lower cost of transactions on Solana for decentralised finance and digital collectables, applications where Ethereum dominates.

In the last month, Jump Trading-affiliated crypto market data provider Pyth Network went live on Solana’s manner, a development that’s expected to help bolster the world of decentralised finance. There are plans for it soon to be able to broadcast market data through the so-called Wormhole Network.

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