Ethereum vs Solana Price Predictions: Who Will Be The Ultimate Layer 1?
Ethereum’s price has recovered steadily, with a notable 18% uptick in the last 30 days despite a sharp 41% dip in its year-to-date chart. ETH’s trading volume has also consolidated, and with decreasing volatility, onlookers anticipate a sharp bullish breakout in the short term.
As Ethereum’s price coils up in a tight price range, Solana price predictions have become optimistic of a recovery as analysts point out SOL’s bullish market structure. Solana’s ecosystem has overshadowed ETH’s DeFi sector thanks to its network's high throughput, low transaction costs, and impeccable scalability.
However, whether SOL or ETH dominates the layer-1 race remains to be seen as both networks struggle under the weight of multiple layer-2 chains built on top of their networks.
Ethereum’s price rebounds as onlookers anticipate a breakout above $2,000
Ethereum’s price has caught the attention of analysts with its display of a potential breakout as it moves towards the $2,000 resistance zone. In its annual timeframe, Ethereum’s price has formed a textbook cup and handle pattern that signals an imminent move for a bullish resurgence.
Ethereum’s price has mostly been dragged down by the scalability issues Ethereum's network has faced, ranging from skyrocketing network fees to network congestion at peak activity.
Image source: Coingecko
Critics like Charles Hoskinson (Cardano’s founder) have pointed out Ethereum’s bloated network issues. In his remarks, Hoskinson believes that Ethereum has only 10 to 15 years before total collapse.
Despite the setbacks, Ethereum’s price is now consolidating, and if it breaks above the $2,000 mark, analysts anticipate a bullish resurgence to a new ATH.
Ethereum’s price is also kept afloat by the Pectra upgrade set to boost the network's scalability and increase throughput while reducing network fees. However, is this enough to topple competitor networks such as Solana?
Solana price predictions forecast a bullish reversal amid SOL’s waning resistance
SOL’s price at $146 is down 5.8% from last year's price. Despite this decline, SOL has rebounded with a 40% uptick in its price in the last month. Analysts highlight Solana’s bullish reversal pattern as one of the reasons to anticipate a resurgence for SOL’s price above the $150 resistance zone.
Like Ethereum's price, SOL is moving sideways in a tight range between $150 and $140. A breakout from this consolidation pattern could materialize if selling pressure wanes and the bulls take control of the market.
A recent wallet transfer from an unknown whale amounting to $200 million worth of SOL has left most onlookers hopeful for a bullish breakout. They are now setting optimistic Solana price predictions with targets as high as $520 per SOL.
Image source: coinmarketcap
Bullish Solana price predictions are also backed by recent upgrades to Solana’s network, such as the patch rollouts that are set to manage critical vulnerabilities on Solana's network.
Remittix outshines major altcoins with its PayFi protocol
While ETH and SOL battle it out for dominance in the Layer 1 sector, a new player has hit the scene with ambitions of reinventing cross-border payments. Remittix is a game-changing PayFi protocol working to simplify cross-border payments for mass adoption.
In a world where crypto holders struggle to send funds to loved ones in a speedy and affordable manner, Remittix offers a much-needed solution that is not only fast and reliable but also affordable.
Remittix transactions come at a flat fee, and there are no hidden costs or extra charges for currency conversion. The platform supports over 30 fiat currencies and 40+ cryptocurrencies, making it easy for anyone to send funds across local payment networks at negligible fees.
The recipients don't need to know that the transactions started out from a crypto wallet, further obscuring the complexities that come with crypto wallets. Remittix's RTX presale has so far raised over $14.7 million, and more than 70% of RTX's 1.5 billion supply has been sold.
Disclaimer: This article is part of sponsored content programme. The Tribune is not responsible for the content including the data in the text and has no role in its selection.
