Mark Weaden
The price of Solana has surged by over 360% since July, attracting the attention of many investors as it offers an exciting future.
Solana is touted to be the future of Web3.0, offering a stand-alone blockchain that will power the future of everything from NFTs to artificial intelligence. There are many in the Solana (SOL) camp that believes the recent rise in price is the start of things to come.
SOL surged by some 7% within 24 hours as the coin pushes its all-time high on an almost daily basis at the moment. It will be interesting to see how things develop for Solana in the coming months. But, what might we see in the long term?
What is the future for Solana?
With a current valuation of around 11 billion dollars, Solana has great potential. The coin has gained market cap quicker than any of the other coins in the top 100, mainly due to its immeasurable potential across a variety, if not all, sectors of industry. It is currently the 8th highest coin on the market.
The technology is what crypto traders should be focusing on when investing. Solana has excellent projects in the works. Namely, Serum is a decentralized (DeFi) exchange based on the order book method we see used in existing blockchains. The appeal of decentralized blockchains is likely to rise significantly as blockchain adoption continues.
Another project is oxygen, offering a DeFi asset management protocol, which can be used for trading and brokerage. The project currently has 40 million dollars in funding. This project is one to look out for in the near future on the Serum exchange.
Solrise is one of the major projects on Solana. It will provide a fund managing platform, allowing people investing their money to track the movements of funds in their accounts as fund managers make trades. The platform would offer a decentralized exchange (DEX), which much like all blockchain-based technologies is going to be highly desirable.
For now, the price continues to soar and the projects working with Solana look very positive. Another Layer-1 network has shown a lot of promise so far in 2021.
