empty
13.01.2022 08:28 PM
Bank of America says Solana could become crypto world's Visa

This image is no longer relevant

Bank of America has conducted its own independent study in which they have examined the cryptocurrency ecosystem and its future in the crypto market. In its latest report, Bank of America has very strongly focused on Solana, one of the main altcoins in the crypto market.

Solana is claimed by many analysts to be the killer of Ethereum because its network and proprietary blockchain is much faster and cheaper.

Many new investors choose Solana(SOL) blockchain as it has more prospects and is much cheaper.

In its latest report, Bank of America said that Solana's blockchain could become the VISA equivalent in the cryptocurrency and NFT world, as its scalability, low fees, and transaction speed are extraordinary.

Bank of America analyst Alkesh Shah praised the cryptocurrency for their focus on improving their ecosystem, increasing transaction speed as well as scalability.

Ethereum, on the other hand, focuses more on its decentralization, injection into big businesses, independence from fiat, and global adaptation. However, it turns a blind eye to the very expensive gas for transactions.

The issue has been on the agenda for several years. However, the subject of gas reduction on the Ethereum blockchain has been put on hold until the proof-of-stake update is released.

Since Solana entered the crypto market in 2020, it has made a breakthrough in the altcoin market. Currently capitalized at $50 billion, it is one of the most widely recognized and best-known blockchains for decentralized applications and the creation of various NFTs.

Solana is one of the most promising cryptocurrencies. It could gain mass adoption, become a top 3 cryptocurrency, and hold the title of the best blockchain on the crypto market.

Vitaly Kolesnikov,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

The Cryptocurrency Market Collapsed — Here's Why

Bitcoin and Ethereum have crashed. Bitcoin lost around 3.5% during morning trading alone, while Ethereum dropped by more than 10%, then slightly rebounded. Panic swept through the cryptocurrency market immediately

Jakub Novak 11:12 2025-06-13 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 13

Bitcoin and Ethereum plunged following Israel's overnight strike on Iran's nuclear facilities, triggering a massive sell-off of risk assets, including in the cryptocurrency market. Should Iran launch a serious retaliatory

Miroslaw Bawulski 09:04 2025-06-13 UTC+2

Technical Analysis of Intraday Price Movement of Filecoin Cryptocurrency, Friday June 13, 2025.

Not much different from other cryptocurrencies such as Solana, Filecoin also has almost similar conditions on its 4-hour chart where there is a Divergence between the Filecoin price movement

Arief Makmur 07:39 2025-06-13 UTC+2

Technical Analysis of Intraday Price Movement of Solana Cryptocurrency, Friday June 13, 2025.

With the appearance of Divergence between the price movement of the Solana cryptocurrency on its 4-hour chart, with the Stochastic Oscillator indicator and confirmed by the labeling of its price

Arief Makmur 07:39 2025-06-13 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 12

Bitcoin and Ethereum experienced a notable pullback after another unsuccessful attempt to rally. Bitcoin could not retest its all-time high, and Ethereum could not surpass the $2900 mark. U.S. Treasury

Miroslaw Bawulski 09:10 2025-06-12 UTC+2

Solana spot ETF around corner

Right now, Solana is in the spotlight for traders. According to the latest reports, the US Securities and Exchange Commission (SEC) has requested that potential Solana ETF issuers submit amended

Jakub Novak 16:23 2025-06-11 UTC+2

The Crypto Winter Is Becoming a Thing of the Past

Bitcoin is showing strong growth and came within a step of reaching a new all-time high. However, it's important to understand that taking this final step will be quite challenging

Jakub Novak 10:18 2025-06-11 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 11

Bitcoin is undergoing a correction following yesterday's rapid surge to the $110,500 area, while Ethereum remains vibrant—having gained over 6% yesterday and currently trading at $2,785. Given such a strong

Miroslaw Bawulski 09:01 2025-06-11 UTC+2

Bitcoin Resumes Growth — And There Are Reasons Behind It

Bitcoin has resumed its upward movement, pulling other cryptocurrency assets along with it. Today's rise during the Asian session clearly points to a breakout of several major technical resistance levels

Jakub Novak 10:12 2025-06-10 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 10

Bitcoin has finally broken through the $107,000 level, and during today's Asian trading session, it surged rapidly to around $110,000, stopping just a step away from updating its all-time high

Miroslaw Bawulski 09:30 2025-06-10 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.