- Cardano lost its spot as the third-largest cryptocurrency during sell-off in the overall crypto market.
- Analysts expect Solana to finish the month higher than it started, SOL has posted over 37% gains in September.
- Solana has offered the second-highest risk-adjusted returns in the past 30 days, Cardano and Ethereum lag behind.
Solana decoupled from top cryptocurrencies Bitcoin and Ethereum in September 2021. Popular as “Ethereum killers,” Solana and Cardano compete for a higher share of the decentralized application ecosystem.
Updates in Solana outweigh trader concerns, analysts expect SOL price to climb higher
According to some proponents, the outage suffered by the Solana network was the nail in the coffin for the altcoin. However, Solana recovered, posting nearly 40% gains in the past 30 days.
Solana is considered an Ethereum alternative, just as Cardano and Polkadot. Market observers have noted that the altcoin has roped in Bitcoin maximalists, primarily due to its high return on investment over the past year.
SOL posted over 4500% gains since September 2020. Travis Kling, founder and chief investment officer of Ikigai Asset Management, has noticed SOL’s popularity among Bitcoin proponents.
After talking to a bunch of folks over the last couple months, it's pretty clear that SOL is successfully winning over a significant number of BTC Maxis or near-maxis, which have previously owned zero ETH or very little ETH.
I think there's a couple reasons for that-
— Travis Kling (@Travis_Kling) September 23, 2021
