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The SEC designates Ethereum competitor Solana (SOL) as an illegal security, causing the price of SOL to drop by nearly 30%. And while some see Solana falling to 0, the current price could be a good buying opportunity as current forecasts suggest an explosive recovery is possible. According to the crazy SOL prediction by Ethereum inventor Vitalik Buterin, could it even be possible to become a millionaire with just 100 Solana?
Become a millionaire with 100 SOL?
The higher the risk, the higher the return: True to this motto, Solana (SOL) could be one of the big crypto winners of the next bull run. Because: After the FTX debacle and the subsequent crash from almost $260 to below $10, SOL has lost much of its value and could potentially generate huge profits in the event of a recovery. Even the inventor of Ethereum Vitalik Buterin is now praising this – he suddenly praises Solana in the highest tones!
This is exciting, because Solana (SOL) is considered a direct competitor to Ethereum and tries to stand out from Ethereum, especially in terms of scalability. According to the official website, Solana can process up to 50,000 transactions per second (TPS) – which is well above the 30 or so TPS that Ethereum is currently generating.
Why is SOL so fast? In particular, by using innovative technologies such as Proof of History (PoH), a time stamp system that determines the order of events on the blockchain – and Turbine, a special solution that speeds up data transmission.
Vitalik Buterin adds: “Smart people” told him that Solana has a “serious and smart developer community” and that he hopes the Solana community will “get a fair chance.” A great statement from someone who considered Solana to be Solana’s main competitor.
That’s not all: According to Vitalik, SOL is also the “most scalable blockchain” ever. The Russian-Canadian programmer:
“Solana is the most scalable blockchain”.
Vitalik loves Solana!
— Ryan 🧡 (@SolanaRyan333) May 23, 2023
Can Solana surpass Ethereum?
So more scalable than Ethereum – but what does that mean for Solana and the SOL course? The bullish case is difficult: If SOL, as the most scalable blockchain, succeeded in overtaking Ethereum and swapping places in the crypto ranking with ETH, Solana would have a price of $525 per SOL – a new all-time high modern!
Quick calculation: currently 1 SOL costs 15.13 dollars – with a small capital investment of around 1,000 dollars you could buy 100 SOL, but it would still be far from a million. This is true even if Solana keeps pumping and Ethereum’s market cap reaches an all-time high: 1 SOL would then be worth $1,430, 100 SOL would be worth $143,000.
So, to become a millionaire with 100 SOL, the price of SOL would have to rise to at least $10,000 per coin – an increase of about 66,000%.
That may sound like an unrealistic prospect, but it’s not impossible. After all, Bitcoin has increased by thousands of percent during its history – and Ethereum has gone from less than $1 per coin in 2015 to over $4,000 in 2021.
If that seems too unlikely for you, you could look at the new meme generator AiDoge (AI): The project is not yet available on the open market, so it offers attractive conditions for those who decide early – and is already considered the hottest new tire in 2023. Why is that?
AiDoge (AI) – AI meets memes
Crypto Jacob Crypto Bury has been influencing the project for weeks: According to his conclusion, AiDoge (AI), one of the 3 best new AI coins at the moment, should be at least 10x possible :
Cryptocurrency Concept: AiDoge (AI) combines memes and artificial intelligence (AI) for an innovative meme generator that allows users to create high-quality memes in no time. Anyone who looks at the success of Pepe Coin, Turbo, Wojak and others knows that memes are the trending topic of the moment and have become a part of the crypto industry like Bitcoin and Ethereum.
Investors are also flocking to AiDoge (AI): the project was able to collect more than 14 million dollars in pre-sale and is now going on June 19 with its first stock market listings. Anyone who gets in now could benefit hugely, as forecasts expect a strong performance in the second half of the year.
Last updated on June 14, 2023
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