Solana’s SOL sign dominated the crypto market in August, and prices almost doubled as investors speculated on the rapid growth of “smart contract” blocks that could one day compete with Ethereum.
According to data from Messari and other suppliers, the price of SOL tokens rose 195% to $ 108 in August and now has a market value of $ 33.7 billion, making it one of the 10 largest cryptocurrency ranks in the world. Has reached. This year alone, wealth has increased 62 times.
Another smart contract blockchain, Terra’s LUNA token, also nearly tripled in price in August, reaching a market capitalization of about $ 13 billion.
Among the digital asset selection list, CoinDesk 20, the best performing ADA token was Cardano’s ADA token, which doubled during the month, followed by Polkadot’s DOT with 75% revenue. All of these high performers in August were members of a group called “Etherium Killer”. This is a so-called Layer 1 blockchain designed to support applications such as Decentralized Finance (DeFi), offering low rates, increased scalability, and faster transaction times. .. As a non-fungible token transaction (NFT).
Fierce speculation comes from Ethereum, the second most popular blockchain after Bitcoin, preparing to receive a major update next year known as Ethereum 2.0.
We have great respect for the spirit of the Ethereum developer community, “Solat Labs CEO Anatoly Yakovenko told CoinDesk. “Seeing is inspiration and, in many ways, laid the foundation for mediating all markets around the world, including DeFi. We are in the same battle.