Wednesday, September 27, 2023
No Result
View All Result
Crypeto News
Smarter_way_USA
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Blockchain
    • Ethereum
    • Altcoin
    • Mining
    • Crypto Exchanges
  • NFT
  • DeFi
  • Web3
  • Metaverse
  • Analysis
  • Regulations
  • Scam Alert
  • Videos
CRYPTO MARKETCAP
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Blockchain
    • Ethereum
    • Altcoin
    • Mining
    • Crypto Exchanges
  • NFT
  • DeFi
  • Web3
  • Metaverse
  • Analysis
  • Regulations
  • Scam Alert
  • Videos
CRYPTO MARKETCAP
Crypeto News
No Result
View All Result

Solana Nears 100 Billion Transaction Milestone As Price Aims For $40

by crypetonews
September 9, 2022
in Bitcoin
Reading Time: 2 mins read
0 0
A A
0
Home Bitcoin
Share on FacebookShare on Twitter


Solana has made a name for itself in the decentralized finance (DeFi) and non-fungible token (NFT) space over the last few years. Its growth has seen it become one of the largest contenders for the leading smart contract network Ethereum, as it presents faster and cheaper transaction options. Its transaction count had quickly multiplied in light of this, and now, the cryptocurrency has neared another important milestone.

Almost 100 Billion Transactions

With only two years of operations under its belt, Solana has quickly grown in prominence among crypto investors. With an average of 3,000 transactions per second (TPS), the total transaction count on the Solana blockchain is like a runner on steroids.

Presently, the total transaction count on the network has surpassed 97.1 billion. This was the count as of Friday when this report was written. Given that the number was around 96 billion on Thursday, Solana’s transaction count is growing at around 1 billion per day. This rate would see the network hit the 100 billion mark before the weekend is over. 

To put this in perspective, the current daily transaction count on the Ethereum network is a little over 1 million at 13 TPS. The upgrade to ETH proof of stake will reportedly allow Ethereum to process 100,000 TPS, but for now, it continues to lag behind competitors such as Solana in terms of speed and capacity. 

Solana Looks To Grow Further

Over the last day, digital assets across the cryptocurrency market have seen some impressive gains. Solana grew more than 7% in this 24-hour period to bring its price above $35, but even this point does not look to be the highest for the cryptocurrency.

Since SOL is now sitting above its 20-day moving average, the selling pressure in the short term has begun to ease up, giving the digital asset room to establish support at $35 and target the $40 level from this point. 

SOL breaks above $35 | Source: SOLUSD on TradingView.com

Solana’s growth in other aspects besides its transaction count is also working to prop up its price. Most notably, the growth of NFT trading on the blockchain. Magic Eden, the leading NFT marketplace on Solana, is fast catching up to OpenSea. 

In the last 7 days, OpenSea saw a total of 149,488 unique traders, where Magic Eden saw 101,349 unique traders. The popularity of collections, such as Okay Bears, DeGods, and now Yoots, has also helped to increase the popularity of the blockchain and bring new demand to the market. 

This demand for the digital asset for trading activities has been the biggest driver of its recovery. If the momentum holds up, then SOL is likely to test $40 before the weekend is over.

Featured image from CNBCTV18, chart from TradingView.com

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…



Source link

Tags: AimsBillionMilestoneNearspriceSolanaTransaction
Previous Post

IT'S ALIVE! Bitcoin Price Chart Pops with Altcoin Market Following, XRP NFT Process, Ethereum Merge.

Next Post

MEGAFANS MOBILE ESPORTS GAMING FANATICS | MEGAFANS PUBLIC NFT SALE

Related Posts

Pro-XRP Lawyer Criticizes SEC’s Latest Decision
Bitcoin

Pro-XRP Lawyer Criticizes SEC’s Latest Decision

September 27, 2023
Bitcoin Price (BTC) Slides Back Towards $26K as Nasdaq Falls on Rising Rates and Oil
Bitcoin

Bitcoin Price (BTC) Slides Back Towards $26K as Nasdaq Falls on Rising Rates and Oil

September 27, 2023
LINK Price Broke Critical Level, Macro Downtrend Behind?
Bitcoin

LINK Price Broke Critical Level, Macro Downtrend Behind?

September 27, 2023
NBA Champion and Former LeBron James Teammate Now Working in Bitcoin
Bitcoin

NBA Champion and Former LeBron James Teammate Now Working in Bitcoin

September 27, 2023
Court Draws Out Boundaries For FTX’s Sam Bankman-Fried Ahead Of Trial
Bitcoin

Court Draws Out Boundaries For FTX’s Sam Bankman-Fried Ahead Of Trial

September 27, 2023
NFTs Continue Showing Strong Resilience Amid The Bear – Here’s The 10 Top Selling NFTs Today
Bitcoin

NFTs Continue Showing Strong Resilience Amid The Bear – Here’s The 10 Top Selling NFTs Today

September 27, 2023
Next Post
MEGAFANS MOBILE ESPORTS GAMING FANATICS | MEGAFANS PUBLIC NFT SALE

MEGAFANS MOBILE ESPORTS GAMING FANATICS | MEGAFANS PUBLIC NFT SALE

NFT project RELEASE ! TiFi token guide how buy ? Get 5000$

NFT project RELEASE ! TiFi token guide how buy ? Get 5000$

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Binance Coin forms a descending triangle above important support area. 2023 gains are gone.
Analysis

Binance Coin forms a descending triangle above important support area. 2023 gains are gone.

by crypetonews
September 26, 2023
0

Binance Coin forms a descending triangle above important support area 2023 gains are gone A break below $200 should trigger...

NFTs Continue Showing Strong Resilience Amid The Bear – Here’s The 10 Top Selling NFTs Today

NFTs Continue Showing Strong Resilience Amid The Bear – Here’s The 10 Top Selling NFTs Today

September 27, 2023
Low-Cap Ethereum Competitor Skyrockets by 61% This Week Amid Flurry of Futures Contract Listings

Low-Cap Ethereum Competitor Skyrockets by 61% This Week Amid Flurry of Futures Contract Listings

September 24, 2023
Optimism To Sell 116 Million OP Tokens Via Private Sale:

Optimism To Sell 116 Million OP Tokens Via Private Sale:

September 21, 2023
US authorities return seven Schiele works to heirs of cabaret performer murdered by the Nazis

US authorities return seven Schiele works to heirs of cabaret performer murdered by the Nazis

September 22, 2023
Taiwan’s Cryptocurrency Sector’s Industry Association

Taiwan’s Cryptocurrency Sector’s Industry Association

September 26, 2023
  • Trending
  • Comments
  • Latest
Dogecoin Poised for a 150% Surge? Key Price Levels to Watch

Dogecoin Poised for a 150% Surge? Key Price Levels to Watch

September 8, 2023
ZTX Genesis Homes NFT Collection Sells Out At OpenSea On Market Debut

ZTX Genesis Homes NFT Collection Sells Out At OpenSea On Market Debut

September 7, 2023
How to Add MetaMask Authentication with Django in 5 Steps – Moralis Web3

How to Add MetaMask Authentication with Django in 5 Steps – Moralis Web3

August 29, 2022
Ralph Lauren CEO on Prices, Sustainability, and the Metaverse

Ralph Lauren CEO on Prices, Sustainability, and the Metaverse

August 17, 2023
Is BTC Price Set To Rebound After Its Sharp Decline? Analyst Marks Potential Breakout Levels For Bitcoin

Is BTC Price Set To Rebound After Its Sharp Decline? Analyst Marks Potential Breakout Levels For Bitcoin

March 3, 2023
Ethereum Price Could See Lift-off Unless This Support Gives Way

Ethereum Price Could See Lift-off Unless This Support Gives Way

September 7, 2023
Bitcoin Holders…Brace Yourselves for This

Bitcoin Holders…Brace Yourselves for This

45
Gareth Soloway: “Bitcoin Going to $15k.. But What Comes Next Will SHOCK You!”

Gareth Soloway: “Bitcoin Going to $15k.. But What Comes Next Will SHOCK You!”

34
[WARNING] FTX is Going to DUMP Bitcoin, Solana and Other Crypto

[WARNING] FTX is Going to DUMP Bitcoin, Solana and Other Crypto

34
I played the worst metaverse so you dont have to – Income Island, Scam or not?

I played the worst metaverse so you dont have to – Income Island, Scam or not?

43
iShowSpeed Scammer Threatens His Haters

iShowSpeed Scammer Threatens His Haters

37
Why Amazon, Google and Microsoft Laid Off Thousands Of Tech Workers

Why Amazon, Google and Microsoft Laid Off Thousands Of Tech Workers

25
Pro-XRP Lawyer Criticizes SEC’s Latest Decision

Pro-XRP Lawyer Criticizes SEC’s Latest Decision

September 27, 2023
Kraken Targets US Stocks and ETFs

Kraken Targets US Stocks and ETFs

September 27, 2023
Artists, writers, performers and their advocates call on US Congress to ban companies from copyrighting AI-generated art

Artists, writers, performers and their advocates call on US Congress to ban companies from copyrighting AI-generated art

September 27, 2023
Six Ethereum-Based Altcoins and Two Low-Cap Crypto Assets Flashing Bullish On-Chain Signal: Santiment

Six Ethereum-Based Altcoins and Two Low-Cap Crypto Assets Flashing Bullish On-Chain Signal: Santiment

September 27, 2023
Bitcoin Price (BTC) Slides Back Towards $26K as Nasdaq Falls on Rising Rates and Oil

Bitcoin Price (BTC) Slides Back Towards $26K as Nasdaq Falls on Rising Rates and Oil

September 27, 2023
How Ethereum Staking Stacks Up in the Proof-of-Stake Landscape

How Ethereum Staking Stacks Up in the Proof-of-Stake Landscape

September 27, 2023
Crypeto News

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Crypeto News.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Videos
  • Web3

LATEST UPDATES

  • Pro-XRP Lawyer Criticizes SEC’s Latest Decision
  • Kraken Targets US Stocks and ETFs
  • Artists, writers, performers and their advocates call on US Congress to ban companies from copyrighting AI-generated art
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 Crypeto News.
Crypeto News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Blockchain
    • Ethereum
    • Altcoin
    • Mining
    • Crypto Exchanges
  • NFT
  • DeFi
  • Web3
  • Metaverse
  • Analysis
  • Regulations
  • Scam Alert
  • Videos

Copyright © 2022 Crypeto News.
Crypeto News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In