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.
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.
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.
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.
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.
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.
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.