Even with recent sell-offs, Solana (CRYPTO: SOL) stands as one of the cryptocurrency market's most explosively successful coins and projects. Despite trading down roughly 85% from its lifetime high, the network's token price has surged more than 4,100% since its launch in March 2020. For investors wondering what comes next, read on for bull and bear cases on Solana presented by two Motley Fool contributors.
Taylor Carmichael: I'm very bullish on Solana. Unlike Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), Solana's blockchain is lightning fast. Its blockchain network can process 65,000 transactions per second, according to Anatoly Yakovenko, the co-founder and CEO of Solana coin. That's 10,000 times faster than Bitcoin and 4,000 times quicker than Ethereum.
This network speed is critical for scalability. Take a look at the "gas fees" that users pay for transactions on the Ethereum network. The price spiked over $450 earlier this year. Even $23 is ridiculously high, given that a transaction on Solana's network costs far less than a penny. A transaction on Solana's network runs about $0.00025.
Source Fool.com