Solana Has Flipped Ethereum In Yet Another Metric In Its Bid To Reach $200

Solana has continued its bullish sentiment in its ecosystem to flip Ethereum in the stablecoin market for the second week in a row, according to on-chain data. SOL's price gain has slowed in the past week, showing a negative 2.3% in a 7-day timeframe at the time of writing.

Timeline of Ethereum, Solana

With a lukewarm greeting of the New Year, Solana's price trend enters the year on a lateral indecisive note, putting a short break to the uptrend. Prolonging the consolidation range in the 4H SOL price chart, the trapped momentum may soon give a decisive breakout trend.

As we traverse into 2024, the trajectory of Solana becomes a pivotal question for the cryptocurrency market. A glance at the Solana chart reveals strong growth, followed by a recent phase of correction.

Google searches for “Solana” have achieved an unprecedented peak, escalating from a modest score of about 27 in late September to an impressive score of 100 as of December 20, as per data from Google Trends. This surge, measured on a scale of 0 to 100, signifies a remarkable 270% surge in search volume over a mere two or so months, underscoring a burgeoning interest in the blockchain platform.

With Ethereum transaction activities increasingly shifting to Layer 2 (L2) networks, the ecosystem is bracing for a potential new bull run, one that could be predominantly led by these L2 platforms like Arbitrum and Optimism. The surge in L2 transactions, which have grown by an astounding 90 times since 2021, paints a clear picture: The next wave of decentralized finance (DeFi), non-fungible tokens (NFTs) and meme coins is likely to be rooted in these scalable networks.

The last twelve months have been nothing short of a wild ride for Bitcoin, Ethereum, and other altcoins, from BTC price revival — the cryptocurrency jumped by more than 160% in 2023 — to innovations in the Web3 industry and non-fungible tokens (NFTs), to the government crackdowns on the industry. Even amid all this hullabaloo,

Ethereum founder Vitalik Buterin recently revealed the Ethereum roadmap for 2024, shedding light on the platform's direction for the upcoming year. In his announcement, Buterin highlighted six key components that will dominate Ethereum's focus in 2024: the merge, the surge, the scourge, the verge, the purge, and the splurge.

Ethereum creator Vitalik Buterin has unveiled an updated road map for the blockchain platform, focusing on long-term strategic upgrades. These updates are part of Ethereum's ongoing effort to bolster network security and optimize its protocol for a more efficient system.

Ethereum founder Vitalik Buterin has shared the crypto project's roadmap for 2024. In a series of posts on X on December 30, Buterin spoke extensively on Ethereum's gameplan for the new year, which he claims is quite similar to the plan for 2023, albeit with a few changes.

Ethereum founder Vitalik Buterin declares that the role of single slot finality (SSF) is the most straightforward approach to tackling the majority of shortcomings on the Ethereum Proof-of-Stake (PoS) design.

Analysts projected an optimistic future for Ethereum, predicting a potential price target of $5,300. This forecast aligns with the latest updates from Ethereum's co-founder, Vitalik Buterin.