January is considered an important month for Solana, with average returns and profitability hitting 70.4% and 70.6% in both 2021 and 2023, respectively. This trend continued in both years, with SOL achieving significant gains of 140.2% and 182%. .
In 2022, the token fell 41.6% by the end of the month. These historical patterns fuel speculation about a possible surge in Solana’s value, but we caution that the sample size of the three cases may be too small to draw concrete conclusions based on price history alone.
Solanas’ superior transaction throughput and low costs
Solana has established itself as a standout company in the cryptocurrency industry with excellent trading performance and low costs. The blockchain network can handle up to 65,000 transactions per second (TPS) with an average fee of $0.00025 per conversion.
This is one of the fastest and most cost-effective networks. In comparison, Ethereum can only process about 15 TPS during peak periods, with an average fee of $35 per transaction.
Solana recently surpassed XRP (XRP) in market capitalization. This comes as SOL rose more than 30% in December, outperforming all other major cryptocurrencies over the same period.
All eyes are on Solana as a potential surge is anticipated.
The outcome is still uncertain, and the growing demand for dApps on the Solana Network could add tension to SOL, which could reach new highs. Some believe market conditions may not be conducive to a huge surge in value.
Time will only tell whether SOL will continue its impressive performance or experience another decline in value as it did in 2022.