• Solana (SOL) is a blockchain platform that is gaining traction in the crypto market. It is currently edging closer to flipping Cardano (ADA), a major milestone.
• The crypto community is reacting to this news with excitement, as well as discussions about the potential of Solana and Cardano’s lack of marketing strategy.
• Despite its recovery since the FTX collapse in November, Solana has not yet hit its previous peak of $33.20.
Solana Generates Excitement
Solana (SOL) is a high-performance blockchain platform gaining significant traction in the crypto market. As it edges closer to flipping Cardano (ADA), one of the top cryptocurrencies by market capitalization, the crypto community is buzzing with anticipation.
Market Capitalization
As of July 18, 2023, Solana’s market capitalization stands at $10,282,533,516, with each SOL token priced at $25.54 – representing a 16.28% increase over the past week. On the other hand, Cardano has a market capitalization of $10,772,611,760 and each ADA token priced at $0.3079 – indicating a 6.01% increase over the past week.. If Solana flips Cardano and retains its position it will become the 7th biggest crypto token by total market cap .
Twitter Sentiment
Thanks to this development Twitter is abuzz with discussions about Solana and Cardano; with many users excited about its potential and some investors lamenting Cardano’s lack of marketing strategy compared to Solana’s aggressive approach.
The FTX Collapse
Since suffering from a crash due to their close relationship with FTX exchange in November , Solana has been recovering but still hasn’t reached its previous peak price of $33.20 .
Ecosystem Developments
Despite this setback , Solena has had an array of ecosystem developments such as partnerships with major players like OKEx , Coinbase Pro , and Binance , as wellas launching several products such as Serum DEX . These developments suggest that there are plenty more exciting announcements ahead for SOL holders .