Solana (SOL) reaches a new all-time high in the middle of the wipe out of the Bitcoin, Ethereum market

• Solana has recorded a new record price and is the only cryptocurrency among the 25 best coins that have been in the green in the past 24 hours.
• The blockchain project recorded enormous growth last year and attracted new projects and some of the most networked people in the industry.

It wasn't the best start to a week for the entire cryptocurrency market. And as with most market movements in the recent past, this had a lot to do with Elon Musk. Bitcoin is currently at the support level of $ 45,000 and has lost 10 percent in the last 24 hours. Others such as Binance Coin, Polkadot and Chainlink have listed larger losses. However, there is a coin that has opposed the trend - Solana.

In the last 24 hours, Solana was the only coin in the top 25 cryptos that was on the green. The crypto increased by 3.94 percent and noted at $ 48.90 at the time of printing. During this time, too, Bitcoin and Ethereum increased by 15.70 percent.

Investors' interest also increased last day. During this time, the trading volume rose by an impressive $ 2.5 billion. Solana now has a market capitalization of $ 13.3 billion and is the 16th largest digital currency after market capitalization.

The most impressive thing about the rally is that Solana managed to achieve its all -time high price of $ 52.50

Solana was one of the most powerful cryptos in 2021, which is a great performance in view of the fact that most projects have shot up. It has increased over 3,000 percent since the beginning of the year after the year started only $ 1.5. Solana was striking for a project that started his Mainnet beta in March last year.

could Solana Ethereum challenge the throne?

Solana describes itself on his website as "a quick, safe and censor -resistant blockchain, which offers the open infrastructure that is necessary for the worldwide introduction". As with many other new generation blockchains, it has cracked the code in terms of speed and efficiency, which still has to struggle with Ethereum. It is claimed to process 50,000 transactions per second.

A way to achieve this high transaction speed is the "proof of history", a new consensus mechanism. This mechanism works through time stamping every transaction and deactivation of the ability of miners to determine the order of the transactions recorded in the blockchain.

Anatoly Yakovenko, the Creator of Solana, claims that the evidence of history enables more security and resistance to censorship. In addition, the network can be much faster than its competitors.

speak with Techcrunch, He noticed: "Basically, the speed of light is how fast we can get this network up and running."

and while some already branded it as an Ethereum killer, Jakowenko has larger ambitions. He wants to disturb the Wall Street and the traditional financial and capital market as a whole. He told the sales point that he wants to "build an open, fair, fairly resistant global market that is better than everything within the New York stock exchange or other means to process shops".

he added: