If you had invested $1,000 in Solana in January 2021, you would have had close to $120,000 when the altcoin project reached ATH. You would have a fortune close to $120,000. cryptocoin.com We look at the details.
120k altcoin
A $1,000 investment in SOL in January 2021 gained over $118,000 as the price hit ATH. Investors lucky enough to buy $1,000 of certain cryptocurrencies would have expanded their portfolios by a 100x margin within months. And today’s story is Solano (SOL). Currently, it is the sixth most important cryptocurrency by market cap after a monstrous rally.
The highly volatile cryptocurrency market can produce some dramatic scenarios. For example, investing $1,000 in Solana on January 1, 2021 meant over $118,000 today. In September last year, a quick glance at the landscape shows the overall market cap of around $300 billion. Today, it has surpassed $2 trillion even after the recent market crash that wiped out billions. And the capitalization from a year ago evaporated in just a few hours.
Bitcoin’s rise from $20,000 to $64,000 has resulted in many other altcoins significantly outperforming their leaders. Looking at scale from year to date, several altcoins have had incredible returns. This is the case for Solana (SOL), Phantom (FTM), Polygon (MATIC), Terra (Luna), Cardano (ADA) and many more tokens. All in all, a little over nine months from now, it’s worth considering how much a potential investment in any of these coins could be worth today.
NFT frenzy
Two of the named tokens would have an ROI of more than 100x – FTM and SOL. Taking full advantage of the NFT craze, Solana would return nearly $120,000 for lucky investors who put $1,000 into the token on Jan. Solana joined Ethereum in the $1 million NFT club. Blockchain consulting firm Moonrock Capital has purchased an NFT from “Degenerate Ape Academy” for 5,980 SOL (roughly $1.1 million).
In particular, it took Solana just two months to reach such a milestone that clearly demonstrates how quickly her ecosystem is growing. For comparison, the current leader in the NFT space, Ethereum, took three years to record its first seven-digit sale. Gulf Stream, the routing protocol of the blockchain, eliminates the need to have a mempool that makes it possible to achieve an impressive 50,000 TPS. Therefore, Solana is positioning itself as the first truly scalable Blockchain that can rival Ethereum.
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