• Solana is gaining traction in the crypto market, approaching a significant milestone of flipping Cardano.
• Solana’s market capitalization has increased by 16.28% over the past week, while Cardano’s growth has been slower at 6.01%.
• Twitter users are excited for Solana’s potential, but some Cardano investors are concerned about their lack of marketing strategies.
Solana Generates Excitement
Solana (SOL) is gaining traction in the crypto market and edging closer to flipping Cardano (ADA), one of the top cryptocurrencies by market capitalization. This development has caused a stir in the crypto community, with many users reacting positively on social media platforms such as Twitter. As of July 18th, 2023, Solana’s market capitalization stands at $10,282,533,516 and each SOL token is priced at $25.54 – representing a 16.28% increase over the past week. On the other hand, Cardano has a total market cap of $10,772,611,760 with each ADA token priced at $0.3079 – demonstrating slower growth with only 6.01% increase over the past week compared to Solana’s surge in value .
Cardano Flip Edges Closer
The gap between the two currencies is slowly closing and if Solana flips Cardano and retains its position it will become the 7th biggest cryptocurrency by total market cap . This news has caused significant excitement amongst crypto traders and enthusiasts who perceive this as an opportunity for strong returns on investment for those who hold SOL tokens . However , some Cardano investors have expressed concern that their project lacks aggressive marketing strategies compared to Solana which could be hindering its progress .
Twitter users have reacted enthusiastically to this news with many expressing their anticipation for what they believe will be strong returns on investment for those holding SOL tokens . On the flip side , some Cardano investors are disappointed that their project does not have an aggressive marketing strategy like that of Solana which could explain why it is lagging behind in terms of gains compared to its rival .
FTX Exchange Crash
In November 2020 , FTX exchange suffered a major crash leading to a drop in value for SOL tokens after their close relationship was revealed . Despite recovering since then , SOL tokens still remain below their pre-crash peak price of $33.20 back in early November 2020 .
In spite of this setback , Solana has seen several interesting ecosystem developments including open source software launches and partnerships which may have contributed towards its current success despite having relatively few applications running on it when compared to Ethereum or other blockchain networks .