Cryptos to watch in 2022: Is Solana the new Bitcoin?

SOLBTC

Solana has been nicknamed "Ethereum destroyer" because of its significantly lower fees and faster transaction times, but according to some analysts it can also pose a threat to Bitcoin.

According to cryptocurrency experts like Sam Bankman-Fried, "the next Bitcoin" will be a blockchain with high throughput which has the potential to process thousands of transactions per second, like Solana. Solana can process 50,000 transaction per second, which makes it a strong competitor to other major cryptocurrencies like Bitcoin and Ethereum.

Solana has been steadily rising in the last weeks, climbing to $203 at the time of writing. This year it has skyrocketed more than 15,000%, and its gains have surpassed the gains of many other digital currencies. Its rapid increase in value is also a result of crypto gaming and successful NFT launches. Together with Cardano, Solana has challenged Ethereum's dominance over NFTs.

How high can Solana go in 2022? Arguably, Solana has a long way to go before it reaches the same level of quality that Ethereum commands, so it will be an interesting year for cryptocurrency dominance.