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Highlights
- SOL’s market cap today is approximately $72 billion, with SOL gaining 43 percent over the last month
- Bitcoin is currently trading at US$61,332, according to CoinMarketCap
- Ethereum has reached new heights after rising to US$4,655 overnight before settling back to its current price of US$4,537
Solana Going Strong
Solana has recently positioned itself as the fourth largest cryptocurrency after a steep rise in value recently.
SOL’s market cap today is approximately US$72 billion, with SOL gaining 43 percent over the last month. SOL’s year to date returns is up a massive 16,930 percent, and the market valuation commands 2.54 percent of the entire crypto economy’s aggregate value, which stands at $2.85 trillion.
Research from investing app Finder has prompted experts to believe SOL will end the year at US$235 per unit.
Moreover, SOL is expected to jump to US$1,178 by 2025, according to finder.com’s experts.
In 2030, Finder’s panellists expect SOL to tap a high of $5,056 per unit.
In a survey conducted by Finder, 51 percent of the survey’s participants believe Solana’s proof-of-history network will dominate the Ethereum network over time.
Satoshi Trial
Moving onto the trial of Wright vs Kleiman to determine the identity of Bitcoin founder pseudonym, Satoshi Nakamoto. Day two and three very much felt like a pile on for Australian computer scientist and defendant, Dr. Craig Wright, as attorneys for the plaintiff, Ira Kleiman spent much of the time painting an unfaltering portrait of Wright’s business practices as well as Wright himself.
A witness for the plaintiff – Bitcoin developer, Gavin Andresen - was brought to the stand on Tuesday and testified that Wright had deceived him during their business relationship.
In a prerecorded video deposition shown to the jury, Andresen testified that he began to doubt Wright’s claim that he is, in fact “Satoshi Nakamoto”, after Wright notoriously failed to deliver cryptographic proof that he had access to Satoshi’s private keys.
The testimony by Andresen is just a sample of what’s coming as the plaintiff’s evidence will continue to be laid out to the ten-person jury until November 11.
Bitcoin is currently trading at US$61,332, according to CoinMarketCap.
Ethereum Spikes
The world’s number one altcoin, Ethereum has reached new heights after rising to US$4,655 overnight before settling back to its current price of US$4,537.
Ethereum’s recent performance has been bolstered by tech giant Facebook’s announcement of the “Metaverse”.
Ethereum is expected to be used to create the metaverse – a virtual online world where people can play games, work and communicate.
The explosion of NFTs in recent months is also a catalyst for Ethereum’s strong recent performance.
Winners and Losers
Source: coinmarketcap.com