- Co-founder of Syncracy Capita Forecast confidently that SOL will rise $200 at the end of the month.
- With a record TPS and 46 times higher growth potential than Ethereum, Solana is in the lead.
- Investors are anticipating major enhancements to the Solana ecosystem as they wait for the Frankendancer upgrade.
The native token of Solana, or SOL, is creating a stir in the cryptocurrency space. On Saturday, it reached a high of $174, its highest level in more than a month, before leveling down at $166.
Leaders in the industry have taken notice of the jump; Daniel Choung, co-founder of Syncracy Capital, has predicted that Solana will reach $200 by the end of May.
Daniel Choung, co-founder of digital asset hedge fund Syncracy Capital, highlights SOL’s remarkable success in a recent tweet, calling it the move of the current market cycle.
Choung says he is confident that SOL will be able to recover $200 by the end of May, which would indicate a total reversal on the monthly timescale and possibly lead to all-time highs (ATHs). This positive prognosis stems from SOL’s steady rising trajectory and its perseverance in overcoming market adversities.
Choung also draws attention to the much awaited “Frankendancer” update, which is part of the Solana ecosystem. Significant improvements and optimizations are about to be introduced in this update, which will boost SOL’s use and performance even more.
With the upcoming Frankendancer upgrade, investors are becoming more confident that SOL can reach new all-time highs.
According to recent data from CoinGecko, Solana has become the fastest big blockchain. On April 6, 2023, its actual daily average transactions per second (TPS) hit a record high of 1,504. With this amazing speed, Solana is 46 times quicker than Ethereum.
Moreover, Polygon (MATIC), the Ethereum scaling solution with the highest TPS at the moment, is more than five times slower than Solana. Even with Solana’s remarkable performance, it has only reached 1.6% of its 65,000 TPS theoretical maximum speed.
This indicates that a lot more work needs to be done, and it will be interesting to see how quickly the network can reach even greater real TPS with its next upgrades.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
