According to Coingecko, there has been a significant increase of over 50%<\/a> in the past week. The value of the token has experienced a significant increase of over 340% throughout the current year.<\/p>\n Speaking on Tuesday’s “Squawk Box” with CNBC, Wood praised Solana’s impressive performance. Reflecting on the past, she noted that Ether surpassed Bitcoin in speed and cost-effectiveness, leading to its prominence.<\/p>\n Wood said that Solana is “doing a really good job,” during a televised interview on Tuesday. “If you look at ether it was faster and cheaper than bitcoin in the day. That’s how we got ether. Solana is even faster and cost effective than ether.”<\/p>\n She pointed out that individuals are willing to tolerate certain trade-offs for the sake of speed and cost, perhaps due to smaller transaction sizes or varying priorities. In her perspective, each network will find its niche, as different users prioritize different aspects of functionality.<\/p>\n Based on data source Kaiko, there has been a consistent increase in activity on Solana throughout the year, with a notable emphasis on liquid staking protocols such as Jito.<\/p>\n Solana has emerged as the leading altcoin in terms of trading volume on exchanges accessible to users in the United States, surpassing the trading activity of Dogecoin.<\/p>\n The native token of Solana, SOL, has seen tremendous growth over the last few months and has drawn a lot of interest from investors. It crossed $60 last week, a valuation last observed in May 2022, igniting more excitement in the community and raising expectations for an impending rally.<\/p>\n In my opinion, I think that @Solana<\/a> is going to continue to be one of the biggest movers during this current bull market cycle and I’m going to lay out some ideas for you.<\/p>\n It’s possible that with the Ethereum ETF news that some of these ideas don’t play out, but it’s worth\u2026 pic.twitter.com\/oii8vWs0W9<\/a><\/p>\n \u2014 Jacob Canfield (@JacobCanfield) November 9, 2023<\/a><\/p><\/blockquote>\n One cryptocurrency speculator who holds this view is Jacob Canfield, a user of the X platform (formerly Twitter). He believes that if SOL maintains its current trend against Ethereum (ETH), it will be “the biggest mover” in the subsequent bull run cycle of cryptocurrencies.<\/p>\nSolana Is Performing Well, ARK Invest CEO Says<\/strong><\/h2>\n
<\/p>\n
SOL market cap currently at $27.6 billion. Chart: TradingView.com<\/a><\/pre>\n
SOL Shines In Trading Volume<\/strong><\/h2>\n
\n