Good question. SOL has a track record of investor reticence due to the strong association to FTX which was a fraud scheme run by two psychotic children that had HUGE amounts of SOL held by their firm. The BELIEF by at least Sam Bankman Fried was that SOL was the next great Crypto able to best with the likes of ETH, BTC which COULD very well be the case (as in despite his being insane and defrauding people the belief was a genuinely held one), but the problem was that the fact that the firm was entirely a money laundering/fraud ring that idea was practically destroyed with SOL’s being tied to it damaging its public image as being complicit with it when it was just an asset FTX held (criminals have dollars, cartels have dollars, but that doesn’t mean the banks or the fed is giving them the money in all cases).
Right now the perception of SOL has been able to somewhat distinguish between it and FTX a bit to where people are less concerned about investing in it. Also Visa has established a partnership with them making it to where they now have a practical foothold/implementation in the current infrastructure LIKE Visa does (and that practical application showcases a real world use case for something that has largely been seen as more of a weird technological toy that the world is playing around with in most cases). These things are good with Visa’s partnering with them granting legitimacy to SOL as not only a viable platform over which to perform transactions, but also as a trustworthy platform as they are understood to have done their due diligence as much as SOL or with any other partner to where they can safely say these transactions will not be defrauded and processed safely.
That said if that maintains it COULD go up, but how high I don’t know.
The Visa thing only further bolsters SOL’s credibility too and they made a fair remark about how crypto is a Wild West dotcom situation from the 90s with how it is new and growing. A lot of the dotcom nonsense of that period was a waste or blew up, but legitimate projects that met a need and refined the market, practice were able to establish themselves within the market of the time to show themselves as useful to meet the needs or unknown wants of the customers they were serving. SOL having the ability to meet the transaction, security requirements of Visa is an example of that transition.
You’re one of the nicer responders not being sarcastic here (which is one of the reasons why I hate the forums and the Telegrams as followers are either nut advocates or antagonistic) so I will thank you for that.
As to the ultimate why of why this is happening now I think it is more tied to Ripple’s succeeding in its lawsuits against the SEC which are literally carrying/saving the entire market of crypto (if not just a large part) from being made illegal entirely and removing major barriers to legitimate projects like XRP, SOL, ETH, BTC, etc. That shadow of the potential legal consequences is something that affects any market while it is being resolved because questions for both investors and creators alike are around “What will happen to my investment if the government does x?”. Ripple has essentially put forward ALL of the financial and legal resources to have these things defined with nobody else really making any defense short of a few exchanges like Coinbase which is in less hot water than Binance as it doesn’t have the money laundering accusations as I recall.
I am not a legal or financial advisor or an official crypto analyst but these things do appear to be the root basics.
And for the record from what I saw Visa can process around 2000 transactions a second practically with SOL currently able to practically resolve 4000. That meets the current need with excess simply meaning much quicker resolutions of transactions meaning immediate account balance updates compared to a few days.
Good question. SOL has a track record of investor reticence due to the strong association to FTX which was a fraud scheme run by two psychotic children that had HUGE amounts of SOL held by their firm. The BELIEF by at least Sam Bankman Fried was that SOL was the next great Crypto able to best with the likes of ETH, BTC which COULD very well be the case (as in despite his being insane and defrauding people the belief was a genuinely held one), but the problem was that the fact that the firm was entirely a money laundering/fraud ring that idea was practically destroyed with SOL’s being tied to it damaging its public image as being complicit with it when it was just an asset FTX held (criminals have dollars, cartels have dollars, but that doesn’t mean the banks or the fed is giving them the money in all cases).
Right now the perception of SOL has been able to somewhat distinguish between it and FTX a bit to where people are less concerned about investing in it. Also Visa has established a partnership with them making it to where they now have a practical foothold/implementation in the current infrastructure LIKE Visa does (and that practical application showcases a real world use case for something that has largely been seen as more of a weird technological toy that the world is playing around with in most cases). These things are good with Visa’s partnering with them granting legitimacy to SOL as not only a viable platform over which to perform transactions, but also as a trustworthy platform as they are understood to have done their due diligence as much as SOL or with any other partner to where they can safely say these transactions will not be defrauded and processed safely.
That said if that maintains it COULD go up, but how high I don’t know.
OP asked about SOLANIUM; the fact that you missed that shows you aren’t nearly educated enough to be giving any advice on Solana.
Be quiet please as there was reason to think the misspelled Solana and are odd to have asked about Solarium crypto in the Solana room
So Visa is giving Sol credibility which is repair the danage from FTX.
The credibility is the current fuel in price.
I agree, and l also have no clue where the ceiling will arrive.
A BTC ETF would help fuel the price ax well.
Glad I bought when the price collapse hit with FTX.
The Visa thing only further bolsters SOL’s credibility too and they made a fair remark about how crypto is a Wild West dotcom situation from the 90s with how it is new and growing. A lot of the dotcom nonsense of that period was a waste or blew up, but legitimate projects that met a need and refined the market, practice were able to establish themselves within the market of the time to show themselves as useful to meet the needs or unknown wants of the customers they were serving. SOL having the ability to meet the transaction, security requirements of Visa is an example of that transition.
You’re one of the nicer responders not being sarcastic here (which is one of the reasons why I hate the forums and the Telegrams as followers are either nut advocates or antagonistic) so I will thank you for that.
As to the ultimate why of why this is happening now I think it is more tied to Ripple’s succeeding in its lawsuits against the SEC which are literally carrying/saving the entire market of crypto (if not just a large part) from being made illegal entirely and removing major barriers to legitimate projects like XRP, SOL, ETH, BTC, etc. That shadow of the potential legal consequences is something that affects any market while it is being resolved because questions for both investors and creators alike are around “What will happen to my investment if the government does x?”. Ripple has essentially put forward ALL of the financial and legal resources to have these things defined with nobody else really making any defense short of a few exchanges like Coinbase which is in less hot water than Binance as it doesn’t have the money laundering accusations as I recall.
I am not a legal or financial advisor or an official crypto analyst but these things do appear to be the root basics.
And for the record from what I saw Visa can process around 2000 transactions a second practically with SOL currently able to practically resolve 4000. That meets the current need with excess simply meaning much quicker resolutions of transactions meaning immediate account balance updates compared to a few days.
Good answer, if OP was asking about SOL. But they are asking about Solanium (SLIM). A platform token built on Solana
3sides2everyStory, 3sides2everyStory this and understand that it makes sense for someone to think someone misspelled Solana.