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Solana can see an additional price rise in 2022 due to many reasons. Three specific fields where crypto has a stronger foothold are smart contracts, Total Value Locked (TVL), and DApps.
Solana can see an additional price rise in 2022:
As this year enters into its ending zone, Solana is getting ready for a price boom with its current market cap of $56 billion. Solana has become a top contender in the smart contracts, TVL of the token has increased by $660 million compared to last year which stretches across more than 40 DApps to hit an all-time high above $11 billion. There are three main reasons why I believe that Solana can see an additional price rise in 2022.
Institutions attraction to Solana:
There is a lot of institutional investors in the Solana ecosystem, which are doing private sales on the platform. The number of active addresses on the Solana dApps is also indicating that the token has the potential to reach the top. NFT platform of Solana is also the market leader in volume and user activity. All of these numbers are much impressive when they are compared to Ethereum, Avalnch, and Polygon.
Solana has the third-largest futures market:
Solana currently holds the third largest futures open interest, which is the most relevant metric in derivatives contracts. This indicator aggregates the total number of contracts held by market participants regardless of the recent trading activity. The statistics show that Solana is the third-largest derivative market by size.
Solana Leads in TVL:
The third and last factor why I think Solana can see an additional price rise in 2022, is that Solana leads in TVL. The firm’s TVL has increased by 15x over the past 6 months. Solana’s dApps users are also nearly half of the Ethereum network. The competitors of Solana are way behind and it is leading. Solana can close the gap in three months.
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