SOL Surpasses Ethereum in Online Searches
Solana has started the week with solid gains and is leading the other top 10 cryptocurrencies. In the last 24 hours, Solana has gained by 12.29; as of 07:51 UTC+0, it was trading at $202.97.
Solana run comes as the internet searches for Solana now outperform those of Ethereum on Google for the first time. It is an indicator that there are more people now interested in Solana than those who are seeking out Ethereum as an investment. This means that FOMO is building up on Solana, and more investors are jumping on it to take advantage of a potential surge in the price of Solana.
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seems solana has flipped ethereum in worldwide google search interest
much bigger news than people realize pic.twitter.com/UEd9qN2Pur
— mert | helius.dev (@0xMert_) March 18, 2024
Solana Meme Coins Now Most Preferred By Investors
The FOMO around Solana is not without basis. Solana has become one of the best launch platforms for meme coins. Most of the top meme coins in the market today are Solana-based. This surge in meme coins launching on Solana has much to do with its low fees.
This means even small investors who have little to invest have the chance to do so on Solana. Even for someone looking to buy Solana meme coins worth as low as $10, the amount lost on fees is less than $1. As media hype around meme coins continues to grow, the demand for Solana as an investment is set to get even more significant.
Solana is also benefiting from the recent celebrations of the Solana genesis block. These celebrations by different Solana communities globally have not only put a spotlight on Solana but also showcased how far Solana has come. For instance, since Solana was launched, it has processed more than 276 billion transactions.
Happy birthday mi amor 💓 @solana 🎂
for you I will onboard the world 🌍
we’re just getting started 🫡 pic.twitter.com/F9xgCCvK1z— Simdope™︱℠⋑∧⊙🧘♂️ (@ViktorSimdope) March 16, 2024
This is a show of growth and resilience for a network that has, in the past, experienced several outages. These metrics and the fact that Solana is outperforming Ethereum not just in investor returns but also in terms of transaction numbers show that Solana has a bright future ahead of it.
Coinbase Deals With Delayed Send Problem For SOL
Solana has also gotten a boost from a move by Coinbase to resolve a delay in sending Solana and Solana-based tokens. Investors were reporting delays in sending their Solana, creating concerns. This is not an issue unique to the Coinbase wallet alone, as other users of other crypto wallets have faced a similar problem where SOL tokens are stuck at processing. With Coinbase resolving the issue and other wallets starting to work on this problem, demand for Solana could soar even higher.
Overall, Solana is emerging as one of the best-performing cryptocurrencies due to its growing competitiveness relative to competitors such as Ethereum, and market players such as Coinbase are resolving issues around sending Solana tokens.
Coinbase Deals With Delayed Send Problem For SOL
Solana has also gotten a boost from a move by Coinbase to resolve a delay in sending Solana and Solana-based tokens. Investors were reporting delays in sending their Solana, creating concerns. This is not an issue unique to the Coinbase wallet alone, as other users of other crypto wallets have faced a similar problem where SOL tokens are stuck at processing. With Coinbase resolving the issue and other wallets starting to work on this problem, demand for Solana could soar even higher.
Overall, Solana is emerging as one of the best-performing cryptocurrencies due to its growing competitiveness relative to competitors such as Ethereum, and market players such as Coinbase are resolving issues around sending Solana tokens.
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Kamal Masri
Kamal is an experienced financial analyst with a demonstrated history of working in the Financial Market. Skilled in Equities, Capital Markets, Portfolio Management, Risk management, and Corporate Finance. Kamal has worked at some of the leading online finance publications providing his expert knowledge on cryptocurrency. Kamal has written widely on digital assets across the stock and crypto media space and beyond, including for Coindesk, Ethereum World News and The FinTech Times.
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