Behind Ethereum, the competition rages on. The Cardano has long been the main competitor. But in 2021, another “Ethereum killer” crypto exploded. So much so that it is now the 6th largest crypto in the world. This is the Solana (SOL).
The decentralized applications industry is very competitive. If Ethereum is leading the way (by far), other cryptos intend to have their share of the pie. Cardano and Solana are two competing cryptos in this sector. The last few months have clearly summer to the advantage of the Solana.
The Solana crypto bull run!
The dynamics of the Solana are very impressive. So at the time of writing this article, the price of Solana is 184 €. It displays a beautiful increase of more than 12% over the last 24 hours. This is the best performance among the top 20 crypto (by far).
If we take a larger time scale, the observation is also without appeal. The price of the Solana thus jumped more than 185% over the last 60 days. Apart from the Shiba Inu, the Solana displays here again the best progression among the top 20.
Conversely, the Cardano has been somewhat bogged down for a few weeks. Over the last 60 days, the price of ADA has been declining. Currently, the price of Cardano is € 1.85, stable over the last 24 hours.
The difference in terms of dynamics between the two competitors is therefore clear. Unsurprisingly, the explosion in the price of Solana caused its capitalization level to explode.
Solana becomes the 6th crypto in the world!
Thanks to his bull run, the crypto Solana seized last week the 6th place in the world in terms of capitalization. Not bad for a crypto whose name few people knew a year ago!
Thus, the Solana has passed in front of leading cryptos like the Polkadot (DOT) or the Ripple (XRP). His next goal? The Solana now has in the sights of its direct competitor, the Cardano ! Cardano is currently the 4th largest crypto in the world. Long third, the Cardano was passed in front by the Binance Coin. Now only the Tether stablecoin is located between the Cardano and the Solana!
The capitalization of Solana is 55 billion euros and that of Cardano almost 61 billion euros. In other words, the difference is now “only” 6 billion euros ! In the volatile world of cryptos, it’s nothing! Concretely, if the Cardano continues its stagnation, it would be enough for the Solana to take another 10% and the two cryptos would then be neck and neck!
Is the DeFi sector in the process of being structured around Ethereum and Solana? Nothing is less sure. Currently the Cardano is on tour in Africa looking for new partnerships. The response is therefore to come …
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