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Bank of America has conducted its own independent study in which they have examined the cryptocurrency ecosystem and its future in the crypto market. In its latest report, Bank of America has very strongly focused on Solana, one of the main altcoins in the crypto market.
Solana is claimed by many analysts to be the killer of Ethereum because its network and proprietary blockchain is much faster and cheaper.
Many new investors choose Solana(SOL) blockchain as it has more prospects and is much cheaper.
In its latest report, Bank of America said that Solana's blockchain could become the VISA equivalent in the cryptocurrency and NFT world, as its scalability, low fees, and transaction speed are extraordinary.
Bank of America analyst Alkesh Shah praised the cryptocurrency for their focus on improving their ecosystem, increasing transaction speed as well as scalability.
Ethereum, on the other hand, focuses more on its decentralization, injection into big businesses, independence from fiat, and global adaptation. However, it turns a blind eye to the very expensive gas for transactions.
The issue has been on the agenda for several years. However, the subject of gas reduction on the Ethereum blockchain has been put on hold until the proof-of-stake update is released.
Since Solana entered the crypto market in 2020, it has made a breakthrough in the altcoin market. Currently capitalized at $50 billion, it is one of the most widely recognized and best-known blockchains for decentralized applications and the creation of various NFTs.
Solana is one of the most promising cryptocurrencies. It could gain mass adoption, become a top 3 cryptocurrency, and hold the title of the best blockchain on the crypto market.
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