Ethereum

Solana

Million

Solana’s SOL token has surged to new yearly highs, registering a remarkable 17% gain just a day after Cathie Wood, CEO of ARK Invest, praised the network’s efficiency and cost-effectiveness during a CNBC interview on November 15th. 
Wood hailed Solana as a major player in the broader blockchain ecosystem, commending its performance in recent market conditions. 
Comparing Solana to Ethereum, Wood emphasized the former’s superior speed and cost-effectiveness, stating, “Ether was faster and cheaper than Bitcoin in the day – that’s how we got Ether. 
Solana is even faster and more cost-effective than Ether.” She underscored the significance of Ethereum and Solana as essential infrastructure layers within the blockchain ecosystem, capable of supporting a wider range of real-world applications compared to Bitcoin. 
While the overall cryptocurrency market is experiencing an uptrend, Solana’s recent gains have outstripped those of other major cryptocurrencies, surging by an impressive 197% over the last month. 
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In contrast, Bitcoin and Ether have seen more modest gains of 32% and 28%, respectively, during the same period. 
As of now, Solana is trading at just over $66, according to TradingView data. 
Wood also addressed the current market anticipation surrounding pending spot Bitcoin exchange-traded fund (ETF) products. 
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She urged investors to stay focused on the fundamental importance of Bitcoin as a catalyst for “the money revolution” and cautioned against becoming too fixated on short-term price fluctuations. 
Acknowledging the possibility of a “sell on the news” scenario, where investors’ anticipation of ETF approval exceeds the market’s demand for the actual event, Wood warned of a potential rapid selloff in the days following such an approval. 
In essence, Wood emphasized the importance of maintaining a long-term perspective on the transformative potential of cryptocurrencies and blockchain technology, regardless of short-term market dynamics. 
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Solana (SOL) Achieves New Yearly Highs with 17% Surge after Cathie Wood’s Praise

Crypto Intelligence

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