Bank of America strategist Alkesh Shah recently expressed his opinion on the future of the Solana cryptocurrency project, calling it, by the way, the main competitor to Ethereum.
According to a well-known analyst, Solana is actively entering the digital asset market, taking away popularity in Ethereum. And this share, according to the expert, will only increase over time.
The analyst emphasized that the main advantages of Solana are its ease of use, speed, as well as low transaction costs. Also, the platform can boast of its scalability, which cannot be said about Ethereum. It is all of the above characteristics that enabled Solana to become the most practical network of the past year.
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“Solana may well become the hallmark of the digital asset industry,” said Alkesh Shah.
The strategist pointed out that in the past, Solana’s native token (SOL) also soared in price, increasing by almost 4300%, which allowed the cryptocurrency to take fifth place in the ranking of the most expensive digital assets today.
In this context, it is worth noting that Sam Backman-Fried, the founder of the cryptocurrency derivatives exchange, and Nikolaos Panigirtzoglou, an analyst at the financial holding JPMorgan, also spoke about the benefits of the Solana project recently. Panigirtzoglou emphasized that the Solana blockchain benefits from an improved protocol, which is very important for the currency space. Beckman-Fried does not rule out that SOL could become the second cryptocurrency.