Solana’s Active Addresses Reach 100 Million as Bank Predicts Price Increase
The post Solana’s Active Addresses Reach 100 Million as Bank Predicts Price Increase appeared on BitcoinEthereumNews.com.
TLDR Standard Chartered predicts 5X SOL price increase by 2025 if Trump wins SOL monthly active addresses surpass 100 million Firedancer validator could boost Solana transactions to 1M TPS Jupiter Exchange launches mobile app for easier SOL trading Layer3 expands to Solana, bringing 300,000+ active users Solana, the high-performance blockchain platform, is making waves in the cryptocurrency world with recent predictions and developments. Standard Chartered Bank, a major financial institution, has released a report suggesting that Solana’s (SOL) price could increase fivefold by the end of 2025 if Donald Trump wins the upcoming U.S. presidential election. This forecast comes as Solana’s network reaches a significant milestone, surpassing 100 million monthly active addresses for the first time. Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered, shared insights on potential scenarios for Solana, Bitcoin, and Ethereum based on the 2024 U.S. presidential election outcomes. Kendrick believes that a Trump presidency might maintain a pro-crypto stance, potentially benefiting the Solana ecosystem. He also mentioned the possibility of a Solana ETF launch, which could drive increased adoption and investment. Solana Price on CoinGecko The bank’s bullish outlook on Solana is partly based on technological advancements within the network. Kendrick highlighted the role of Firedancer, a third-party validator client aimed at significantly boosting Solana’s transaction speed. Firedancer could potentially increase Solana’s transactions per second (TPS) by 100 to 400 times, reaching up to one million TPS. This improvement is crucial for Solana’s ambition to become the go-to platform for sectors requiring high throughput, such as finance, consumer services, and decentralized physical infrastructure networks (DePIN). 🚨BREAKING BIG: Monthly Active Addresses on @Solana surpass 100 million, a new all-time high. pic.twitter.com/IEymMlnjZy — SolanaFloor (@SolanaFloor) October 8, 2024 Standard Chartered’s predictions extend beyond Solana. The bank forecasts that Bitcoin could reach $200,000 by the end…
Filed under: News - @ October 9, 2024 3:20 pm