But how far will Solana (SOL) go ?
– If this very rhetorical question has the advantage of making a nice headline without much effort, the questioning remains no less legitimate in view of the behavior of this crypto asset whose regular and irresistible rise seems to be impeded by nothing and nobody. And in this matter, Solana does not seem willing to take the slightest break. The
latest demonstration: Solana has just stolen Dogecoin’s (DOGE) 7th place in
crypto ranking overnight
. Everyone agrees that
Solana and its token SOL are the hallmark of great projects. Founded by Anatoly Yakovenko (whom Sami had the opportunity to interview
), Solana is thus unanimously considered by the crypto ecosystem as being among the potential leaders of the sector at the scale of the next decade against the backdrop of the emergence of the famous “Internet of value”.
But to be perfectly honest, aren’t these the stated ambitions of a good dozen crypto assets operating in the top 50 of the market?
So it’s hard to discern what took the Solana project from a solid, respectable project to this unstoppable rocket that is splitting the firmament of the crypto ecosystem. And even though the entire market is regaining some color in recent weeks, it’s hard not to notice that Solana is still vastly outperforming it. But isn’t that the mark of a great champion, to dominate head and shoulders, including, and especially, when the competition is in top form?
The recipe for success is astonishingly obvious, once it has produced its effects
Thus, from Solana, we will remember an over-efficient alchemy between solid fundamentals and roadmap, and the ability to surf on the hype of the moment (think of the recent launch of Solarians, characters in the form of NFT, whose revelation these last few days met with an incredible success, despite a technically indigent launch). Add to that a certain sense of teasing (the mysterious “Ignition” event that sent the community into a tizzy), and you’ve got part of the secret formula. The rest belongs to the market.
<img width=”1455″ height=”388″ src=”//www.w3.org/2000/svg’%20viewBox=’0%200%201455%20388’%3E%3C/svg%3E” alt=’Solana’s Ignition event” /><img width=”1455″ height=”388″ src=”https://yellowrocketagency.com/wp-content/uploads/2021/09/image-1..jpg” alt=’Solana’s Ignition event” />
Dogecoin, tacked to the SOL
the friendly pooch must this morning hide a tear of spite and face the facts: if their mascot is in the news these days for tokenizing the original image of the Internet’s most famous Shiba Inu, but that didn’t stop the Doge from getting bumped out of his good 7th place on the market cap overnight by Solana.
After Solana’s rise of nearly 20% in 24 hours, and a new ATH of $136, SOL’s total capitalization now stands at $39.2 billion at the time of writing (compared to Dogecoin’s $38.8, which is still expensive for a big kennel, no matter how cute).
Next target, Ripple? Quite a big one, which will require an additional 20 billion in relative capitalization gain to become a reality.
In light of what looks like a newfound dynamism in the crypto market as a whole, there’s no doubt that the Top 10 rankings will steadily change. In the meantime, if you want to rub shoulders with SOL (or Raydium, in the same ecosystem), keeping in mind that after such temperature rises, will come the time of cooling, you can go and read this article.
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