Soana (SoL) has emerged as a worthy competitor to Ethereum (ETH). The SoL network has seen incredible growth in recent years. ETH continues to dominate the decentralized application (DAPP) industry, but its dominance is questioned by solar.
Why Solana can hinder Ethereum 2025
Sol’s price fell to under $ 9 after FTX’s collapse 2022. The popular Cryptocurrency has since shown an incredible comeback. Sun has hit several holidays over the past two years. The asset reached its latest top of $ 293.31 earlier this year in January. Since the 2022 flames until it hit a maximum time in January 2025, Sol’s prize was collected by more than 3000%.
The Slide Upgrading for the SoL network can further push the price of the asset. The update will lead to the network being able to handle more than one million transactions per second. ETH, on the other hand, can make about 15 transactions per second. The update can lead to a mass excursion of developers from the ETH ecosystem to the SoL network. The update of the shooter also aims to lower taxes in the SoL network. Low taxes and high speeds can lead to more users flocking to the ecosystem.
Solana (sun) also has some spot ETF applications with SEC. There is a high probability that SEC will approve a Sun ETF sometime this year. A SOL ETF is likely to lead to an increase in institutional investment for asset. The move can lead to the project’s market caps growing many times.
Also read: Will Standard Chartered’s Solana (SoL) prediction of $ 550 in 2030 to come true?
