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Solana is even faster and more cost-effective than Ether, says ARK Invest CEO

  • ARK Invest CEO Cathie Wood commented on the speed and transaction cost of Bitcoin, Ethereum and Solana. 
  • Wood believes Ethereum-alternative Solana is the fastest and most cost-effective, compared to the other two assets. 
  • SOL price rallied more than 10% on the day, yielding double-digit gains for holders.
Solana is even faster and more cost-effective than Ether, says ARK Invest CEO
Ekta MouryaEkta MouryaFXStreet

Cathie Wood, CEO of ARK Invest, shared her views on Bitcoin, Ethereum and Solana in an interview with CNBC’s Squawk Box. Wood commented on blockchain protocols used for payments and their cost-effectiveness, comparing the three assets.

Also read: Vitalik Buterin’s Plasma-Tech narrative could fuel bullish outlook in MATIC, OMG, LOOM, TON

Cathie Wood shares bullish views on Solana

The ARK Invest CEO spoke about infrastructure players in the blockchain ecosystem. Wood shared her insights into crypto while discussing ARK’s five new ETFs launching this week. The ETFs include a mix of Bitcoin futures, Ethereum futures and a wide range of Bitcoin and equity-exposed companies.

Wood shared her thoughts on existing crypto protocols and compared them with each other on cost-effectiveness and speed. The ARK Invest CEO noted that Ethereum was initially faster and more cost-effective than Bitcoin. However, Solana has now surpassed the second-largest blockchain protocol in these aspects. Wood highlighted Solana’s role in the blockchain space while discussing Bitcoin and Bitcoin-related equities in crypto.

Solana yields double-digit daily gains for holders

The Ethereum-alternative token rallied, posting 11.50% gains for SOL token holders in the past 24 hours. Solana has climbed 46% in the past week as the token touched the $63.20 level for the first time since May 2022.

SOL price recovered from its losses during the FTX exchange collapse and reversed its multi-month downtrend in mid-October 2023. At the time of writing, SOL price is $63.20 on Binance.

 

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

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