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Solana surpassed $ 200 in the rally it started in the last quarter of 2023, leaving many altcoins behind. While SOL managed to attract the attention of investors with its unstoppable rise, the problems experienced in the network overshadow this rise of SOL.
While Solana continues to struggle with the network congestion it experiences, Bernstein analysts' evaluation of Solana came.
Bernstein analysts said Solana is leading the ongoing war in blockchain payments, The Block reported.
However, analysts added that scalability still remains an issue at Solana.
In a note to clients, Bernstein analysts led by Gautam Chhugani and Mahika Sapra wrote about Solana's leadership and ongoing problems:
“The biggest change in the last cycle was that Solana took the dominant market share (43% highest share) in the value of transferred stablecoins compared to Ethereum, which was the market leader in the previous cycle.
“Furthermore, signs of revival in the stablecoin market represent growth in liquidity and improving investor sentiment.”
Analysts reiterated that the most important issue for SOL is scalability, noting that beyond Solana being a global payment network for cross-border payments, Solana has not yet entered mainstream consumer or B2B payments despite pilots with Visa and Shopify.
*This is not investment advice.