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[Cryptocurrency Prediction] Why 2022 will be the breakout year for Solana

From George Prior

Nigel Green

According to the CEO of a $ 12 billion financial giant, cryptocurrency Solana is likely to outperform both Bitcoin and Ethereum, the world’s two largest digital currencies, again in 2022.

The bullish prediction from Nigel Green, CEO and founder of deVere Group, an independent financial advisory asset management and fintech organization in the UK, “comes on Friday amid another sharp bearish decline in the leading cryptocurrencies.

Bitcoin, Ethereum and Solana are down about 5.7%, 6.8% and 8.9%, respectively, in the last 24 hours of trading.

Green says, “End-of-week trading was hit by negative sentiment in high-growth stocks, which had an impact on Bitcoin, the world’s largest cryptocurrency by market cap, which in turn weighed on the broader crypto market.”

Despite this current volatility, crypto investors who have stayed consistently in the market have generally had a positive year. Since the beginning of the year, Bitcoin is up 46%, Ether 376% and Solana up 13,000%.

Savvy investors – both retail and institutional investors – know that crypto is the future of money. In times of volatility, when there are lower entry points for top-up portfolios, they typically continue to feed money into the digital asset market.

He continues: “I am confident that Solana, currently the fifth largest cryptocurrency by market capitalization, will play a key role in 2022. It started the year trading around $ 2, now it’s changing hands the deVere Crypto app for around $ 200.

He emphasized, “It is likely that due to its masterful technology and cost-effectiveness, it will outperform both Bitcoin and Ethereum again in the next year.”

Green explains: “Solana is a blockchain platform that offers outstanding high transaction speeds, processes over 2,500 transactions per second – the main competitor Ether is 15 – and that at lower costs and without compromising on decentralization.”

Like Ether, it supports smart contracts, which are algorithms that work automatically based on pre-defined agreements on blockchain technology.

This revolutionary technology will ultimately change the way almost all business and financial services are provided in the future. As a result, a growing number of decentralized financial applications (DeFi) are migrating to Solana.

You’ll also be drawn to the significantly cheaper fees compared to Ether, which prices have skyrocketed in recent months.

In September, the Solana network went down for about 17 hours. At the time, Solana stated on Twitter that a huge increase in the transaction load to 400,000 per second had overwhelmed the network.

“It’s still a young network and that was just a temporary mistake,” comments Nigel Green.

His conclusion: “In-the-know investors are watching it with interest. There’s no reason it shouldn’t top headline grabbers Bitcoin and Ethereum again next year if the current momentum continues. “

“It’s a momentum fueled by a booming DeFi space as retail investors seek alternative financing options and institutional investors keep stepping up.”

“2022 will be Solana’s breakthrough year.”

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