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Swapping AVAX to SOL: Key Crypto Features

kokou adzo

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After the huge success that Ethereum had in the crypto market, many projects tried to replicate that idea with slight improvements. It’s how we received the alleged ETH killers, and Avalanche and Solana belong in that category.

If you are keen on learning more about the two coins, read our guide below. We gather all important details to assess before you exchange AVAX to SOL, including tokenomics and price predictions about both currencies.

Exploring AVAX

Avalanche is a layer-1 blockchain released in 2020. It has many similarities to Ethereum, considering its aim is to offer maximum scalability with optimum processing speed. Avalanche can process up to 4,500 transfers per second. It uses the Proof-of-Stake consensus mechanism.

Three chains make an Avalanche, and those are C (Contract), X (Exchange), and P (Platform). The first hosts the ecosystem and most of the transactions, and the Snowman Protocol powers it.

AVAX Tokenomics

The current worth of AVAX is $21. Avalanche lost over 85% of its value compared to its all-time high, which was $146.22 in 2021. That percentage is actually lower than most crypto tokens.

AVAX has a market cap of around $7 billion and 365 million tokens in circulation. Its current total supply is 433 million, while the maximum supply has a limit of 720 million coins.

As for AVAX use cases, the primary is that it serves for transaction fees on this blockchain. Avalanche uses the PoS consensus protocol, so staking is the way to validate transactions. For users, locking their coins means they receive rewards if they meet the conditions. Finally, AVAX can serve as the primary currency of accounts on Avalanche that use multiple subnets.

AVAX Price Prediction

Avalanche should remain around the current $21 worth in 2023, with only those optimistic believing it could increase by over $25. For 2024, the predictions vary, and some believe that AVAX could be worth anywhere from $45.16 to $53.5. Those who are more cautious warn that the value is likely to stay about the same or not exceed $30.

In 2025, Avalanche should exceed $40. The most optimistic investors believe that AVAX could go as high as $70, but you can call this guessing. As for a five-year forecast, Avalanche could be worth anywhere from $70 to $130 in 2028.

What Is Solana?

Solana is another layer-1 blockchain that rivals Ethereum. Developers released it in 2020, and its primary focus is on enabling the creation of dApps. Solana uses the Proof-of-History consensus protocol, which is actually a variation of the Proof-of-Stake.

Solana is in the top ten cryptos in the market. You can read various comparisons, such as the XRP vs SOL article, to see how it performs to other best-ranked coins.

SOL Tokenomics

A single SOL token is now worth $60. If you compare it to the coin’s all-time high, which was $260.06, SOL lost about 76% of its value. Solana’s market cap is around $25 billion, placing it in sixth place in the crypto rankings. The coin’s circulating supply is around 423 million SOL coins, while the total is 563 million. There’s no defined maximum supply.

SOL’s use cases start with settling transaction fees on the network, and there’s also the option of staking coins to secure the blockchain and receive rewards. Other utilities include creating NFT marketplaces, developing decentralized apps and DeFi services, and play-to-earn games and Web 3.0.

SOL Price Prediction

Solana performed very well in 2023, exceeding many predictions that placed the coin under $60. The growth trend should continue in 2024, and it’s only a question of how far SOL will go. Some believe that the token’s price can go up to $120. Those who are more cautious warn that SOL might even return to $50. Similar expectations are for 2025, except that the most optimistic predictions go up to $150.

As for long-term forecasts, Solana might be worth anywhere from $96.68 to $327.44 in 2028. Experts agree it has a huge potential, but many believe its success will largely depend on how well the entire crypto market performs.

What to Expect From AVAX to SOL Exchange?

The reason why you acquire any asset in the crypto market is potential profit. Trading Avalanche for Solana could be a good move, but make sure you confirm it with research. Make the necessary analysis and check the technical indicators, and don’t forget to confirm it fits your strategy. Once you decide to convert AVAX to SOL, you’ll find many exchanges supporting this trade. Find the best rates and go ahead with the transfer to acquire SOL coins today.

 

Kokou Adzo is the editor and author of Startup.info. He is passionate about business and tech, and brings you the latest Startup news and information. He graduated from university of Siena (Italy) and Rennes (France) in Communications and Political Science with a Master's Degree. He manages the editorial operations at Startup.info.

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