As cryptocurrencies struggle to survive the bear market, analysts remain optimistic about Bitcoin (BTC) and altcoin over the long term. According to Nasadaq analyst John Csizar, 2 altcoin projects are candidates to become the Ethereum (ETH) of the future.
LEFT: Analyst highlights the JPMorgan report
wither After instilling confidence that it could be the “next” Ethereum at the end of 2021, when the price (SOL) soared above $ 260, it quickly became popular with investors. However, the SOL has declined significantly since then and is currently trading below $ 30. The cryptocurrency market in general has experienced a great deal of success in 2022. But Solana still maintains a market cap of around $ 13.5. billions. Despite the sell-off in this market, it indicates that investor interest remains high. One of the reasons Solana is often described as the cryptocurrency of the future is that it is the only large cryptocurrency blockchain to use evidence of the past. Proof of Date (PoH) is extremely fast compared to the proof-of-work and proof-of-stake protocol used by cryptocurrencies like Ethereum and Bitcoin, and also offers lower fees.
Ethereum is capable of processing between 15 and 45 transactions per second, while SOL claims it can handle around 50,000 transactions per second. This could be a tangible reason for an altcoin project to catch up or even surpass Bitcoin and Ethereum. The analyst also says that the daily growth of the NFT ecosystem in Solana will give impetus to the project. Banks like JPMorgan Chase and Bank of America have praised SOL in their previous reports. At the moment wither, its ecosystem has more than 400 projects, including decentralized exchanges, portfolios and other advertising projects. There are also stablecoins such as Circle’s USD Coin on the platform. The future may still be bright for Solana given its low cost and scalability.
Cardano: Ecosystem, guided research!
While Solana is gaining popularity because it is faster and cheaper than Ethereum, Cardano remains on the agenda as a more environmentally sustainable alternative. Cardano was originally developed by one of the creators of Ethereum, Charles Hoskinson. Executive, EthereumHe suggested it. In fact, Cardano was conceived as the first proof-of-stake cryptocurrency designed to provide a faster, cheaper and more secure blockchain. Cardano’s approach, unlike Ethereum, requires more research, and each development stage is peer-reviewed and thoroughly tested before implementation.
Cardano is also rolling out smart contract capabilities that will help make the ecosystem more sustainable and scalable. As some analysts describe, Bitcoin Crypto 1.0, Ethereum Crypto 2.0 and Cardano Crypto 3.0. Cardano is actually the sixth largest cryptocurrency with a current market cap of around $ 30.5 billion. Like most other cryptocurrencies, Cardano’s price plummeted. After reaching around $ 3.10 in September 2021, Cardano is currently trading at $ 0.58.