The bullish rally caused some analysts to project a target of $ 500, which would translate into a market capitalization of $ 150 billion.
Notably, during the SOL rally, the average transaction fee for the Ethereum network had exceeded $ 40.
Growing interest in the NFT market accelerated investors' transition to Solana, which was fueled by FTX's NFT market launch on September 6.
Tom Brady: 'I would love my salary to be paid in cryptocurrencies like Bitcoin, Ethereum and Solana'
Solana, Avalanche, and Cosmos price on Binance. Source: TradingView The chart above shows SOL's two-month performance compared to Avalanche (AVAX) and Cosmos (ATOM).
They both fight for the same decentralized application user base and offer faster and cheaper transactions compared to Ethereum (ETH).
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