Solana is once again the talk of crypto, and its native coin SOL is benefiting from the attention. The price of SOL is up over 9% today, hitting a 24-hour high of $44.41. 

Over the past 30 days, it has exploded in value by over 88%, according to CoinGecko—making it the biggest winner of all the major cryptocurrencies.

And despite its association with the collapsed FTX crypto exchange and its criminally convicted founder Sam Bankman-Fried, experts say Solana’s recent rise shouldn’t come as a shock.

Widely considered a competitor to Ethereum, Solana aims to be the go-to network for on-chain applications and experiences. Ethereum proponents argue that the leading smart contract network offers greater stability and security, but Solana is objectively cheaper and faster for those wanting to build or use lending protocols, games, and other applications that utilize blockchain technology.

Solana gas fees right now stand at $0.000522; to make a transaction on Ethereum, it costs $6.58 on average. 

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Author: Mathew Di Salvo

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