Solana was the top gainer among major cryptos as BankofAmerica called the network the 'Visa of the digital asset ecosystem.' By shauryamalwa
Solana led gains among the top ten cryptocurrencies by market capitalization in the past 24 hours. Prices rose over 8% to $152 during the European morning hours on Thursday after a bounce from the $130 support level.said in a research note that Solana’s low fees and high transaction speeds made it the “Visa of the digital asset ecosystem.” It could even usurp Ethereum’s current position as a leader among smart contract-enabled blockchains, the bank's analysts said.
Relative Strength Index readings of 53 suggest that Thursday’s surge could have further upside in the days ahead. RSI is a price-chart indicator that measures the magnitude of price changes, with readings above 70 suggesting an asset is overbought and could be primed for a correction.
Some investors say the quick adoption of NFTs on Solana, compared to other blockchains, showcases how a low-cost, fast network helps retail onboarding.
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