On the Solana Path: Top 3 Promising Blockchains
By Artem Khomenko 1608 5 Oct 2022
The Solana blockchain became the discovery of 2021. The network has grown at a phenomenal rate, and the token has risen in price by more than 1000% in a year. Are there any crypto that can repeat this path?
The main features of Solana are the high network bandwidth and cheap transactions. At a time when the crypto market was booming, this was the main solution for many projects that chose a new blockchain to deploy their startups.
According to Coinmarketcap, Solana (SOL token) is the 9th largest cryptocurrency in the market with a market capitalization of almost $12 billion.
We created a list of top 3 promising blockchains which can become a discovery in the next bull cycle:
Mina claims to be the "lightest" blockchain, as it is roughly 22kb in size. In addition, due to special information redistribution technology, Mina has a fixed size, whereas other blockchains are considered to become “heavier” with each block.
Many blockchains that run on Proof-of Stake (PoS) require their coins to be delegated to validators, who confirm transactions. Every user of Mina Protocol can connect directly and get access to the network without the need for intermediaries. It means that everyone can synchronize with the network and participate in the consensus.
Mina held an ICO through CoinList in April, 2021. At that time, 75 million tokens were sold in a public sale with an average price of $0.25. The current rate is $0.53, which is almost the historical minimum. Mina currently has a market cap of $400 million.
Metis is a Layer 2 of the Ethereum blockchain. This network unites all areas of the crypto economy - dApps, DAO, NFT and allows users to start their own projects easily and inexpensively. Metis has a number of advantages over the “basic” Ethereum blockchain, which include micro-payments, microservice integration, reputation system, business applications, and more.
Metis held an ICO through Gate crypto exchange on May 13, 202. At the public sale, the price of the token was $5 and only 0.5% of the coin issue was available for sale.
The METIS crypto price reached its all-time high of $322 on 16 January 2022. Since then, the token has been down 92% and is now trading at $25. The project has a market cap of $106 million (226th place according to Coingecko).
Moonbeam is an EVM network that focuses on building a bridge between the Ethereum and Polkadot blockchains. Moonbeam allows to work with usual attributes of the Ethereum network, such as Solidity, Vyper and ERC-20 token standards. At the same time, the projects remain fully compatible with the Polkadot blockchain.
Moonbeam’s native blockchain token is GLMR. The project raised 35 million DOT ($233 million) as part of the Polkadot parachain auction. Tokensoft also hosted a Token Sale with a price of $0.25 per token. All 100 million GLMR sold in a public sale, were unlocked in February 2022 and are already in circulation.
The GLMR token is trading at $0.46. Market capitalization - $184 million.
Many projects can show good dynamics during a bull market. The main task is to determine the potential of blockchain before the market rally begins. To do this, you need to understand the intricacies of the project, which will help to understand the power of the growing demand on tokens you have chosen.