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As altcoins rally, Solana (SOL) is proving to be a tough competitor to ethereum (eth) after pushing BNB to fourth place.
Solana changes BNB, the next ethereum?
SOL has had a strong month, bouncing from $54.17 on November 28th to reach $99.12 on December 22nd.
Currently valued at $91.6, its $38.9 billion market capitalization places the token in fifth place, just below BNB.
SOL surpassed BNB on December 22: SOL reached $41.9 billion, above BNB's $41.8 billion.
Still, SOL remains 64% below its all-time high of $260.06.
Solana has seen many positive developments this year, with multinational giants such as bitcoin-and-other-cryptocurrencies-remain-flat.html” target=”_blank” rel=”noopener”>VISA choose your network to support USDC agreements.
New features like State Compression dramatically lower the cost of storing/minting NFTS on your blockchain.
Its new Token-2022 standard increases privacy protection and requires royalty payments for nft creators, and its new validator client, Firedancer, has launched on its Testnet.
It is planned to raise the network threshold to one million transactions per second.
Solana's new $10 million grant will sponsor teams seeking to research and develop at the intersection of blockchain and artificial intelligence (ai).
With gas rates even cheaper than the Avalanche, many crypto analysts like Zed Monopoly remain bullish.
He believes that once a bitcoin spot ETF is approved, more money will flow into altcoins and many new investors will look for a viable alternative to eth.
bitcoin Minetrix may be a trend in 2024
While SOL is trending, investors are also looking crypto-news.care/” target=”_blank” rel=”noopener”>bitcoin Minetrix.
The goal is to provide a unique decentralized, token-based cloud mining service.
This innovation allows you to mine bitcoin (btc) effectively and securely, addressing the problem of deceptive third-party cloud mining operations.
It achieves this by giving token holders direct control over the mining process. Holders can stake BTCMTX, the native bitcoin Minetrix token, to earn credits for btc mining.
BTCMTX is currently trading at $0.0124 in the ongoing pre-sale where over $5.7 million has been raised.
77.5% of the four billion BTCMTX have been allocated to the public. There are 39 incremental price increases planned, and the token price will increase from $0.0117 to $0.0124 on December 22.
This strategy is designed to attract early investors by offering more attractive prices before BTCMTX is listed on crypto exchanges.
Be sure to check their X (Twitter) and Telegram for the latest updates.
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