TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

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.

More from Ekta Mourya
Share:

Editor's Picks

Binance revokes SignalPlus API keys over potential security threat

Binance revokes SignalPlus API keys over potential security threat

Binance, the largest cryptocurrency exchange, announced on Thursday that it revoked the Application Programming Interface (API) keys linked to SignalPlus, a third-party institution-grade technology firm.

XRP gains ground as Ripple CEO says US crypto users aren’t going anywhere after midterms, calls for clear rules

XRP gains ground as Ripple CEO says US crypto users aren’t going anywhere after midterms, calls for clear rules

Ripple (XRP) ticks higher on Thursday, trading near $1.32. The remittance token is up roughly 10% from last week’s trough at $1.20, suggesting that the path of least resistance is gradually flipping upward.

Top Altcoins Price Forecast: Ripple, Cardano and Solana extend post-midterms rally

Top Altcoins Price Forecast: Ripple, Cardano and Solana extend post-midterms rally

Top altcoins, including Ripple (XRP), Cardano (ADA), and Solana (SOL) are trading in the green on Thursday, extending a steady recovery so far this week, driven by the post-US midterms relief.

Bitcoin claims $80,500 as short liquidations mount

Bitcoin claims $80,500 as short liquidations mount

Bitcoin (BTC) extends its rebound, climbing above $80,500 on Thursday after closing above the key Exponential Moving Averages (EMAs) the previous day. The rebound comes as a short squeeze triggers nearly $800 million in liquidations over the past 24 hours.

Bitcoin: Binance security breach and hawkish Fed push BTC lower

Bitcoin: Binance security breach and hawkish Fed push BTC lower

Bitcoin (BTC) continues to weaken this week, down more than 3% and heading for its fourth straight weekly loss. The largest cryptocurrency by market capitalization is facing a bearish outlook, fueled by a hawkish Federal Reserve (Fed) outlook at the October meeting and a reported $6.3 billion hack at Binance, which is driving risk aversion and triggering heavy liquidations.