Thursday, September 23, 2021
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SOL outperforms Cardano and Ripple XRP by – The crypto currency is more expensive than ever, there is a real hype in the crypto markets about the fast growing blockchain and its native crypto currency.

Solana even has a faster price increase than the recently strong cryptocurrencies and. The competitor rose a whopping 44.30 percent in the past 24 hours, marking a record high, according to data.

In the last seven days of trading, the cryptocurrency of the extremely fast blockchain, which can process more than 50,000 transactions per second – Ethereum, on the other hand, only manages 15 transactions per second – has gained more than 66 percent. Ripple XRP ranks just 2 percentage points behind with a plus of 64 percent. At Cardano, on the other hand, it is “only” 54 percent.

Thanks to the recent price explosion, Solano has even made it into the top 10 of the world’s most important cryptocurrencies by market capitalization on The stock market value of the newcomer was briefly over 18 billion dollars, but recently fell back somewhat. However, the recent upward trend is far from being enough to catch up with the market capitalization of XRP ($ 60 billion) and Cardano ($ 70 billion).

The trigger for the course rally at Solana is not an upgrade of the network, but an NFT project by the Degenerate Ape Academy, in which a user-created collection of 10,000 unique “Degen Apes” was sold out within eight minutes.

Six SOL tokens (around $ 372) were due per monkey, but the additional transaction fee for using the Solana platform was minimal.

On its Twitter feed, the Degenerate Ape Project announced that things did not go smoothly when it started. The team was “simply overwhelmed by the wave that hit us last week”.

“It was exponentially bigger than we thought”, wrote they and announced quick refunds for users who tried to mine monkeys, but they were already out of stock.

For many who managed to get hold of a degenerate monkey, the fun has already paid off. On the NFT trading platform, the sword Apes recently sold range from 11.50 SOL (cheapest – 713 dollars) to 70 SOL (most expensive – 4,340 dollars).

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy / sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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