Solana (SOL) has reached new yearly highs, gaining greater than 17% the day after ARK Make investments CEO Cathie Wood lauded the community for its effectivity and cost-effectiveness.
In a Nov. 15 CNBC interview, Wood described the Solana community as a serious infrastructure participant within the wider blockchain ecosystem and added it had been doing a “actually good job” within the latest market situations.
Wood praised the Solana community for being quicker and extra environment friendly than the Ethereum community.
“Ether was quicker and cheaper than Bitcoin within the day — that’s how we received Ether. Solana is even quicker and cost-effective than Ether”
Wood spoke of Ethereum and Solana as essential additions to the blockchain ecosystem, describing them as essential infrastructure layers — able to extra real-world functions than Bitcoin.
Whereas the broader crypto market is on an uptrend, Solana’s features have considerably outpaced these of different main cryptocurrencies, gaining greater than 197% within the final month. In the meantime, Bitcoin (BTC) and Ether (ETH) are respectively up 32% and 28% throughout the identical timeframe.
Solana is presently altering fingers for simply over $66 per TradingView data.
Wood additionally addressed the present market anticipation for a slew of pending spot Bitcoin ETF products, saying it is essential to stay centered on the underlying significance of Bitcoin as “the cash revolution” and not get too caught up on short-term worth motion.
She admitted that there could be a “promote on the information” model occasion, the place buyers’ anticipation of an approval outpaces the market demand for the precise occasion, main to a quick selloff in the days following.
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