Cryptos to watch in 2022: Is Solana the new Bitcoin?

29 Nov 2021

SOLBTC

Solana has been nicknamed "Ethereum destroyer" because of its significantly lower fees and faster transaction times, but according to some analysts it can also pose a threat to Bitcoin.

According to cryptocurrency experts like Sam Bankman-Fried, "the next Bitcoin" will be a blockchain with high throughput which has the potential to process thousands of transactions per second, like Solana. Solana can process 50,000 transaction per second, which makes it a strong competitor to other major cryptocurrencies like Bitcoin and Ethereum.

Solana has been steadily rising in the last weeks, climbing to $203 at the time of writing. This year it has skyrocketed more than 15,000%, and its gains have surpassed the gains of many other digital currencies. Its rapid increase in value is also a result of crypto gaming and successful NFT launches. Together with Cardano, Solana has challenged Ethereum's dominance over NFTs.

How high can Solana go in 2022? Arguably, Solana has a long way to go before it reaches the same level of quality that Ethereum commands, so it will be an interesting year for cryptocurrency dominance.