Solana SURPASSES Ethereum In Key Metric
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May 19, 2024 2:57 pm
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Solana has officially become the fastest blockchain by clocking in a maximum TPS of 1,504.
This completely outclasses Ethereum’s base layer average TPS range of 12-15 transactions per second, and other alt-chains that promise magnificent TPS numbers, yet perform similarly to Ethereum.
According to the CoinGecko report, Solana has recorded a maximum TPS of 1,504, with the daily average coming in at 1,053 transactions per second, and 91 million daily transactions.
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These are impressive numbers indeed, though it has not been entirely smooth sailing for the Ethereum competitor.
Solana’s blockchain network has experienced several notable crashes during the last several years. The current TPS data was widely reported by multiple outlets:
🚨 BREAKING: @solana becomes the fastest blockchain by max daily average TPS at 1,053.
(TPS – Transaction Per Second) pic.twitter.com/68j0gXLAww
— SolanaFloor | Powered by Step Finance (@SolanaFloor) May 17, 2024
🚨 BREAKING: @solana has reclaimed the top spot for Daily Transactions as Sui blockchain's transaction activity has declined. pic.twitter.com/xhy22TT8Gh
— SolanaFloor | Powered by Step Finance (@SolanaFloor) May 8, 2024
Crypto News noted:
Despite its position as the fastest blockchain, Solana has only achieved 1.6% of its theoretical maximum speed of 65,000 TPS.
Solana has been experiencing significant upward price action since the start of 2024. The digital asset is currently trading in the middle of a range at roughly $169.11, down from its recent high of $210.98.
Coin Gape provided this price analysis for Solana:
Solana is on a notable rise, signaling a potential bullish phase. If this upward trend continues, SOL might surpass the $180 resistance barrier. With ongoing momentum, its value could reach $200 and potentially $250 soon.
Conversely, if market sentiment turns negative, SOL price might stabilize around $170, its nearest support level.
A further decline could push it down to $150, highlighting the cryptocurrency market’s volatility.
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