Solana, the sixth-ranked cryptocurrency by market capitalization, shows significant dominance over other assets in terms of daily transaction counts.
Transaction Metrics of Solana
According to data shared by The Solana Post, Solana's daily transaction volume has surpassed that of Ethereum, which ranks higher. Solana is capable of processing over 2,600 transactions per second, whereas Ethereum handles between 15 and 30 transactions per second. The high transaction volume on Solana indicates strong network activity.
Factors Contributing to Solana's Success
Solana continues to showcase impressive results thanks to its growing transaction rates. One key factor behind this success may be the potential approval of Solana exchange-traded fund (ETF) by the SEC. Traders predict a high likelihood of approval at 76%. Additionally, increasing activity in traditional markets supports a favorable investment climate for crypto assets.
Price Growth Potential of Solana in Q3
Historically, Solana has shown positive results in Q3, except for 2022 when it recorded a slight decline. July usually sees an average growth rate of 30.3% for the asset. If this trend continues, the price may exceed $190, but to set a new all-time high, a growth of over 50% from the current price is necessary.
Solana remains a frontrunner in the cryptocurrency world due to high transaction metrics and active users. Market changes could further influence its success going forward.
