{"id":4773,"date":"2022-01-14T05:25:31","date_gmt":"2022-01-14T05:25:31","guid":{"rendered":"http:\/\/egrowonline.com\/?p=4773"},"modified":"2022-01-14T05:25:31","modified_gmt":"2022-01-14T05:25:31","slug":"visa-of-digital-assets-bank-of-america-issues-shock-ethereum-rival-prediction-as-the-price-of-bitcoin-bnb-solana-cardano-and-xrp-suddenly-slide","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=4773","title":{"rendered":"\u2018Visa Of Digital Assets\u2019\u2014Bank Of America Issues Shock Ethereum Rival Prediction As The Price Of Bitcoin, BNB, Solana, Cardano And XRP Suddenly Slide"},"content":{"rendered":"


\n<\/p>\n

\n

Bitcoin and cryptocurrency prices have dropped back after staging a sudden recovery earlier this week<\/a>. <\/p>\n

Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and discover hot new NFT and crypto blockbusters poised for 1,000% gains<\/em><\/a><\/p>\n

The bitcoin price, climbing to almost $45,000 per bitcoin after dropping to $39,000 last week, has stalled, falling sharply back toward $40,000. Meanwhile, other top ten cryptocurrencies ethereum, Binance’s BNB, solana, cardano and XRP have also dropped back, erasing much of the gains they’d made this week. <\/p>\n

Now, analysts at Bank of America <\/p>\n

BAC<\/a>
\n have predicted ethereum rival solana\u2014which has rocketed 4,000% since this time last year\u2014could win a significant amount of market share from ethereum and become the “Visa <\/p>\n

V<\/a>
\n of the digital asset ecosystem.” <\/p>\n

Sign up now for the free\u00a0CryptoCodex<\/em><\/strong><\/a>\u2014A daily newsletter for the crypto-curious. Helping you understand the world of bitcoin and crypto, every weekday<\/strong><\/p>\n

MORE FROM FORBES<\/span>Legendary Investor Reveals Huge Bitcoin Bet As The Price Of Ethereum, BNB, Solana, Cardano And XRP Suddenly Soar<\/span>By null<\/span><\/small><\/span><\/a> <\/p>\n

\n

The price of ethereum and its biggest rivals solana, Binance’s BNB and cardano, have outpaced … [+]<\/span> bitcoin over the last year as investors bet they could be the future of the internet. <\/span><\/p>\n

SOPA Images\/LightRocket via Getty Images<\/small>
\n <\/figcaption><\/figure>\n

“[Solana\u2019s] ability to provide high throughput, low cost and ease of use creates a blockchain optimized for consumer use cases like micropayments, DeFi, NFTs, decentralized networks (web3) and gaming,” Bank of America analyst Alkesh Shah wrote in the note to clients this week, first reported by Coindesk<\/em><\/a>. <\/p>\n

Ethereum, the second-largest cryptocurrency after bitcoin, has surged over the last year as the popularity of decentralized finance (DeFi)\u2014using crypto technology to recreate traditional financial services\u2014and viral, digital media-based non-fungible tokens (NFTs) have soared\u2014both of which are almost entirely based on ethereum’s blockchain. <\/p>\n

Web3, the idea a blockchain and crypto-based internet will replace the Silicon Valley-centric web 2.0, has been popularized in recent months by Facebook’s Mark Zuckerberg pivoting his social media giant towards the “metaverse” and huge venture capital investment from the likes of Andreessen Horowitz. <\/p>\n

Rivals to ethereum\u2014Binance’s BNB, solana, and cardano\u2014have attracted billions of dollars over the last couple of years as traders bet they’ll be able to win market share from ethereum, which is plagued by sky-high fees and painfully slow transaction times.<\/p>\n

“Solana prioritizes scalability, but a relatively less decentralized and secure blockchain has trade-offs, illustrated by several network performance issues since inception,” wrote Shah. Solana has suffered a number of outages in recent months that have cast doubt on the blockchain-based network’s ability to scale. <\/p>\n

CryptoCodex<\/em><\/strong><\/a>\u2014A free, daily newsletter for the crypto-curious<\/strong><\/p>\n

MORE FROM FORBES<\/span>A Billionaire Investor Has Just Called The Bitcoin Bottom After A $1 Trillion Crypto Price Crash Tanked Ethereum, BNB, Solana, Cardano And XRP<\/span>By null<\/span><\/small><\/span><\/a> <\/p>\n

\n

The solana price has surged 4,000% over the last year, climbing at a far faster clip than the price … [+]<\/span> of bitcoin, ethereum and most other major cryptocurrencies. <\/span><\/p>\n

Coinbase<\/small>
\n <\/figcaption><\/figure>\n

Compared to global payments giant Visa, which processes around 164 billion transactions per year at an average of 1,700 transactions per second (TPS), ethereum is far slower, though solana claims to be able to compete. Ethereum currently handles around 12 transactions per second on its base layer while solana boasts a theoretical limit of 65,000 transactions per second.<\/p>\n

“Ethereum prioritizes decentralization and security, but at the expense of scalability, which has led to periods of network congestion and transaction fees that are occasionally larger than the value of the transaction being sent,” wrote Shah, highlighting ethereum’s eye-wateringly high fees. <\/p>\n

In December, billionaire crypto investor Mike Novogratz has said he expects the ethereum price to continue outperforming bitcoin\u2014calling ethereum “a technology bet and bitcoin more as a debasement of fiat currency bet.”<\/a><\/p>\n<\/div>\n


\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin and cryptocurrency prices have dropped back after staging a sudden recovery earlier this week. Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and discover hot new NFT and crypto blockbusters poised for 1,000% gains The bitcoin price, climbing to almost $45,000 per bitcoin after dropping to $39,000 last week, has stalled, falling sharply back […]<\/p>\n","protected":false},"author":1,"featured_media":4774,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[44],"tags":[1757,3568,50,564,266,271,158,1824,498,195,629,3569,3359,84,1103,1361,58],"class_list":["post-4773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","tag-america","tag-assetsbank","tag-bitcoin","tag-bnb","tag-cardano","tag-digital","tag-ethereum","tag-issues","tag-prediction","tag-price","tag-rival","tag-shock","tag-slide","tag-solana","tag-suddenly","tag-visa","tag-xrp"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/01\/1642137928_0x0.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4773"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4773\/revisions"}],"predecessor-version":[{"id":4775,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4773\/revisions\/4775"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/4774"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4773"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}