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As altcoins rebound, Solana (SOL) is proving to be a strong Ethereum (ETH) competitor after pushing BNB to fourth place.
Solana flips BNB, what’s next for Ethereum?
SOL had a strong month, reaching $99.12 by December 22, from $54.17 on November 28.
Currently at $91.6 and with a market capitalization of $38.9 billion, the token ranks 5th, just below BNB.
SOL converted BNB on December 22, bringing SOL to $41.9 billion, surpassing BNB’s $41.8 billion.
Nonetheless, SOL remains 64% below its all-time high of $260.06.
Solana has seen many positive developments this year with large multinational companies such as: Visa Select a network to support USDC payments.
New features such as state compression dramatically reduce the cost of storing/issuing NFTS on the blockchain.
The new Token-2022 standard strengthens privacy and enforces royalty payments to NFT creators, and a new verification client, Firedancer, has been released on testnet.
It is set to raise the network’s threshold to one million transactions per second.
Solana’s new $10 million grant will support teams seeking research and development at the intersection of blockchain and artificial intelligence (AI).
Many cryptocurrency analysts like Zed Monopoly remain bullish as gas fees are much cheaper than Avalanche.
He believes that once a spot Bitcoin ETF is approved, more money will flow into altcoins and many new investors will find a viable alternative to ETH.
Bitcoin Minetrix Could Be a Trend in 2024
While the SOL trend is underway, investors are also keeping an eye on 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 safely while solving the problem of fraudulent third-party cloud mining operations.
It achieves this by giving token holders direct control over the mining process. Holders can earn credits for BTC mining by staking Bitcoin Minetrix’s native token, BTCMTX.
BTCMTX is currently trading at $0.0124 in an ongoing pre-sale that has raised over $5.7 million.
Of the 4 billion BTCMTX, 77.5% has been allocated to the public. There are 39 incremental price increases scheduled for December 22nd, including an increase in the token price from $0.0117 to $0.0124.
This strategy is designed to attract early investors by offering a more attractive price before BTCMTX is listed on cryptocurrency exchanges.
Be sure to check it out. X (Twitter) And check out the latest updates on Telegram.
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