Ethereum

Solana

Value

when

Higher

<ul> 
 <li>Solana (SOL) hits a new high of $214, marking a significant recovery with a 2500% increase since its low after the FTX collapse.</li> 
 <li>Recent data shows Solana now exceeds Ethereum in Real Economic Value, driven by vibrant activity in decentralized applications and memecoins.</li> 
</ul> 
In the dynamic realm of cryptocurrency, <a href="https://www.ethnews.com/solana-meme-coin-prediction-analyst-expects-0-0007-token-to-skyrocket-to-30-while-dogecoin-doge-eyes-5-and-xrp-targets-10/">Solana</a> has achieved a milestone that has caught the attention of investors and blockchain enthusiasts alike. On a recent Sunday, the price of Solana (SOL) climbed to an impressive $214 at major exchanges—the highest it has been since December 2021. This peak is not merely a numerical achievement but marks a robust 2500% increase from its historical low post-FTX collapse, a time when Solana’s ties to Sam Bankman-Fried had severely dented its value. 
The remarkable resurgence of <a href="https://www.ethnews.com/snowden-issues-warning-solana-caught-between-innovation-and-venture-capital/">Solana</a> is reflective of a broader optimism in the cryptocurrency market, particularly influenced by the recent US elections. Over the last 24 hours, SOL saw a 5% increase, with a staggering 29% rise over the past week. Monthly gains have been reported at 44%, confirming the solidity of this upward trend according to CoinGecko data. 
<h2 id="a-new-paradigm-in-blockchain-economics">A New Paradigm in Blockchain Economics</h2> 
A pivotal report by Syncracy Capital in October 2024 highlights a significant shift in the blockchain landscape: <a href="https://www.ethnews.com/dogen-dogen-analyst-update-dogen-on-track-to-hit-12-while-polkadot-dot-eyes-10-and-solana-sol-targets-500/">Solana</a> has surpassed Ethereum in several crucial economic indicators. The Real Economic Value (REV) of Solana now stands at 111% of Ethereum’s, a dramatic leap from just 1% the previous year. This metric is vital as it reflects the actual economic activity and utility of the blockchain rather than just speculative value. 
The surge in <a href="https://www.ethnews.com/meet-catzilla-solanas-next-superstar-with-explosive-5000-potential-that-could-compete-with-popcat/">Solana</a>‘s economic indicators can be largely attributed to the explosive activity within its network. Key areas such as memecoins and decentralized applications (DApps) have shown particularly high activity levels. By the end of October, the Total Value Locked (TVL) in Solana reached a two-year high, surpassing 42 million SOL. This indicates a significant amount of assets being managed and utilized within the Solana ecosystem, signifying trust and growing use-case scenarios. 
Moreover, <a href="https://www.ethnews.com/will-solana-replace-ethereum-insider-reveals-shocking-predictions/">Solana</a>‘s ecosystem has also made notable advances in decentralized infrastructure protocols (DePIN). It now houses nine blockchain ‘unicorns’—startups valued at over one billion dollars—including prominent names like Helium, Render, IoNET, and Grass. These developments showcase the increasing diversification and strengthening of Solana’s application cases across various sectors. 
The trajectory of <a href="https://www.ethnews.com/solana-and-ethereum-could-yield-5x-but-this-small-cap-coin-might-multiply-your-wealth-by-50x/">Solana</a>, fueled by both its technological prowess and economic performance, now positions it as a formidable competitor to Ethereum. With the upcoming Firedancer upgrade slated for 2025, Solana is poised to solidify its standing among the top cryptocurrencies, potentially reshaping the competitive landscape in the blockchain world. 
The post <a href="https://www.ethnews.com/solanas-spectacular-surge-now-valued-higher-than-ethereum-in-key-economic-metrics/">Solana’s Spectacular Surge: Now Valued Higher than Ethereum in Key Economic Metrics</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

Solana’s Spectacular Surge: Now Valued Higher than Ethereum in Key Economic Metrics

Table of Contents

ETHNews

Other articles published on Nov 13, 2024

Price analysis 11/13: BTC, ETH, SOL, BNB, DOGE, XRP, ADA, SHIB, TON, AVAX

Bitcoin Prices Surge Following Halving Event

Is a Solana Price Rally Imminent? Investor Activity Heats Up, Yet a ‘SOL Killer’ Takes the Spotli...

Coinbase Unveils COIN50 Index for Crypto Tracking

Bitcoin Price Could Hit $327K, Peter Brandt Predicts If This Happens

ONDO Set to Resume Massive Rally if Price Rebounds from Key Support

Join our free newsletter for daily crypto updates!