Solana has been in a bullish momentum lately and has eaten up volumes and positions of other blue-chip coins. The digital asset is under the radar of several traders and investors in the space. The month of November has been Moonvember for SOL prices. As the digital asset has catapulted itself, procuring newer market cap rankings.
Meanwhile, The platform is foraying into the gaming space. Which could impart immense value to the blockchain and to the NFT space. In addition, traders are looking forward to SOL price rising leaps and bounds ahead of its current valuation.
Solana’s Venture Into the World of Gaming and NFTs
The world is venturing into the gaming space and NFTs, and several blockchains are moving towards the revolution. Consecutively, Solana ventures, FTX, Lightspeed are creating a $100 million Web3 gaming investment. The initiative has already directed $21 million to a gaming project based on Solana. The first investment Faraway games raises was $30 million.
The project aims at developing new decentralized models for gaming as well as the tools which are required to build the same. According to some sources, the representatives are in association with the fund. Believe that Solana could thrive in the crypto gaming space, owing to its high speed, low cost, and its capabilities.
Solana Price Analysis
The digital asset at press time is trading at $246.54, while the market cap is around $74,359,544,383. The trading volume for round the clock is at $3,168,580,390. The digital has surpassed its descending triangle and is currently trending within a bullish flag. If it breaks through, we can expect it to surge close to $300 levels. Where it could witness a small pullback, post which it could rise to levels around $360.
The Solana community has been optimistic about the performance of Solana. The popular crypto trader expects the SOL price to reach $900, from its current valuation of $246.54. The digital asset has been jumping over hurdles, rising up above the odds. Crypto proponent highlights that Solana has been rhyming its movements with that of Ethereum from February 17th, 2017 to January 10th, 2018.
Collectively, Solana is one of the highly decentralized projects in space. The network has the second-highest validators among all PoS chains. The network processes higher transactions at fairly lower charges. The protocol has always been one of the top USPs of the network. Moreover the initiatives such as it oncoming conference are only going to take it ahead.