Ethereum

Solana

Bitcoin

Million

<ul class="list-ic vertical">
 <li><span>1</span> <a>Solana crypto shows a remarkable spike of 56.20% this week.</a></li>
 <li><span>2</span> <a>Sol crypto price is under the bulls’ control.</a></li>
 <li><span>3</span> <a>Cathie Wood compared Solana Network with Bitcoin and Ethereum</a></li>
</ul>
<p>Solana’s price surged after ARK Invest CEO Cathie Wood praised it for its cost-effectiveness. On November 15 CNBC interviewed Cathie Wood about the Solana network. Wood praised Solana for its good performance in the recent market conditions.&nbsp; Woods also added that Solana is faster and more efficient as compared to the Ethereum Network.&nbsp;</p>
<p>In the interview, Cathie Wood first praises Ether over Bitcoin and said “Ether was faster and cheaper than Bitcoin in the day — that’s how we got Ether.” After that Wood lauded Solana- “Solana is even faster and cost-effective than Ether.”</p>
<p>Wood elaborated on the importance of Ethereum and Solana in the blockchain ecosystem and also mentioned them as significant infrastructure layers and also added that both are more useful and capable in the real world as compared to Bitcoin.</p>
<h2 class="wp-block-heading" id="strong-solana-crypto-sol-crypto-price-hits-2023-high-key-reasons-strong"><strong>Solana Crypto: SOL Crypto Price Hits 2023 High; Key Reasons</strong></h2>
<p>Solana crypto price has shown remarkable growth this year, as it has grown by almost 576% since the beginning of the year. The growth continued till now as the crypto price gained 53.95% this week, reaching the 2023 high. However, despite reaching the 2023 high, it is far away from its all-time high price of $259.96.</p>
<div class="wp-block-image">
 <figure class="aligncenter is-resized"><img decoding="async" src="https://lh7-us.googleusercontent.com/qXmsA4G_uw6YAbdwz4IY8615bIZWhEXGMtTkBGp9Ny-AckulcWOIqPeOKSaV0PWoGclxAj5c1u1HHZNrGFcivTvhrB1T_5PQZOa5A0HiRWOSpaB-PQYnz1fy5Rpr2T9l-OXYbSw9ebWLDqTqLU_zUa0" alt="Solana Surges after Cathie Wood Praise Regarding Speed and Cost" style="width: 100%;height:auto">
  <figcaption class="wp-element-caption">
   Source: Token Terminal
  </figcaption>
 </figure>
</div>
<p>Upsurge in the user base is considered to be one of the main reasons behind Solana’s price growth and is led by Jito, a liquid staking platform. Moreover, Solana marked a 2023-high in terms of active users, reaching 2,13,774 on November 11, 2023. Additionally, the revenue was $7 Million on 15 Nov 2023. The above data shows the positive outlook in Solana crypto.</p>
<h2 class="wp-block-heading" id="strong-solana-crypto-fundamentals-strong"><strong>Solana Crypto Fundamentals</strong></h2>
<p>At the time of writing, <a href="https://www.thecoinrepublic.com/2023/11/05/solana-price-prediction-2024-2026-sol-price-may-fly-to-80/" rel="noopener noreferrer nofollow">Solana’s</a> market cap is $27.58 Billion with 163.27% growth, it has a fully diluted market cap of $36.71 Billion with 159.38% growth. Additionally, its last 30 days’ revenue was $1.11 Million with 83.16% growth and the annualized revenue was $13.51 with 29.59% growth. The P/F ratio (Fully Diluted market cap/ annualized fees) was 1,183.05x and the total transaction fees paid by users of the last 30 days is $2.22 Million with 83.16% growth while the annualized fees were $27.03 Million&nbsp;</p>
<h2 class="wp-block-heading" id="strong-let-s-take-a-dive-into-solana-crypto-technicals-strong"><strong>Let’s Take a Dive into Solana Crypto Technicals</strong></h2>
<p>The technical chart shows a prolonged bullish momentum in Solana crypto as it surged 557.43% year to date, 221.77% over 6 months, and 202.17% in the past 3 months. The bullish rally has continued till now as it rose 173.17% last month, and 51.75% last week. The data highlights the bulls’ dominance on the Sol crypto price chart throughout the year.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/kEkJfzOI4Ucjez-_Qz-FgAhmYDv-DtHfUhqzisX1xZuTMj_GTesSEQ15RCcQI4AZ1OY2LFe1n_GAPNzSKFTZ0DNQMgYda9fCpea5W1ycio8Qo6EiD5KxxGSGndiovK725KmupyrJpypzsC_ZUgEvNaw" alt="Solana Surges after Cathie Wood Praise Regarding Speed and Cost">
  <figcaption class="wp-element-caption">
   Source: Tradingview
  </figcaption>
 </figure>
</div>
<p><a href="https://www.thecoinrepublic.com/2023/11/05/solana-price-prediction-2024-2026-sol-price-may-fly-to-80/" rel="noopener noreferrer nofollow">SOl</a> crypto price is trading above the 50, 100, and 200-day moving averages, showcasing bullishness while the RSI curve is in the overbought zone near 82, showing the buyers are highly active.</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>Solana Crypto is spreading a wave of optimism around the crypto market as many positive things are happening with it. Solana has strong fundamentals and technicals showcasing bullishness in the stock.&nbsp;</p>

Solana Surges after Cathie Wood Praise Regarding Speed and Cost

Table of Contents

Thecoinrepublic.com

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