Solana (SOL) To Hit $200 By The End OF May Says Co-founder of Syncracy Capital
Mustafa Mulla18 May 20242 min read
Solana’s native token (SOL) is making waves in the cryptocurrency market with its price hitting $174 on Saturday, marking its highest price in over a month before consolidating around $166. The surge has garnered attention from industry leaders, with Daniel Choung, co-founder of Syncracy Capital, predicting Solana’s rise to $200 by May’s end.
Solana To Hit $200 By May
In a recent tweet post Daniel Choung, co-founder of digital asset hedge fund Syncracy Capital, underscores SOL’s exceptional performance, labeling it the standout trade of the current market cycle.
Choung expresses firm confidence in SOL’s potential to reclaim $200 by end of the May, signaling a complete reversal on the monthly timeframe and potentially paving the way for all-time highs (ATHs). This optimistic outlook is rooted in SOL’s consistent upward trajectory and its ability to weather market challenges with resilience.
Further Choung highlights the upcoming “Frankendancer” upgrade, a highly anticipated development within the Solana ecosystem. This upgrade is poised to introduce significant enhancements and optimizations, further bolstering SOL’s performance and adoption.
With the Frankendancer upgrade on the horizon, investors are increasingly bullish on SOL’s potential to achieve new all-time highs.
Solana Emerges As Fastest Blockchain
Recent data from CoinGecko highlights that Solana has emerged as the fastest among large blockchains, with its actual daily average transactions per second (TPS) reaching a record high of 1,504 on April 6th, 2023. This remarkable speed makes Solana 46x faster than Ethereum.
Furthermore, Solana’s TPS is more than 5x faster than Polygon (MATIC), which currently holds the highest TPS among Ethereum scaling solutions. Despite Solana’s impressive performance, it has only achieved 1.6% of its theoretical maximum speed of 65,000 TPS.
This suggests there is still significant room for improvement, and the network’s upcoming upgrades will be closely watched to see how quickly it can achieve even higher real TPS.
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