What to Invest In: AVAX vs SOL
Avalanche is widely regarded as one of the major rivals to Ethereum, and so is Solana. The crypto market is becoming highly competitive, and many investors want to place their money in the right project and buy the cryptocurrencies of the most successful platform.
If you own AVAX and think it’s time to exchange it for SOL or vice versa, make sure to continue reading this article. We’ll review both Avalanche and Solana and even provide a short overview of price predictions from the leading websites to give you an idea of how the prices will move in the future. Hopefully, this will help you come up with an effective trading strategy.
Avalanche is described as a layer-one blockchain, and its primary purpose is to host decentralized apps, as well as custom blockchain networks. But what makes Avalanche actually better than Ethereum? For starters, it aims to achieve much higher throughput, with the main goal being 6,500 transactions per second. Of course, the platform doesn’t want to compromise scalability in any way while increasing TPS.
Avalanche features three blockchains called P-Chain, C-Chain, and X-Chain, which create a completely new and unique architecture compared to chains such as Ethereum and Bitcoin. The platform uses a unique consensus mechanism as well.
All in all, Avalanche is a true gem in terms of what it offers to blockchain users. Still, it’s not nearly as popular as Ethereum. However, that can change in the future, as more investors may consider AVAX thanks to Avalanche’s unique underlying technology. If you don’t agree with this, you can always quickly swap AVAX to ETH and stick to Ethereum.
AVAX Price Forecast
So far, the average price for 2022 has been around $18, which is way below its all-time high recorded in November 2021 — $146. Despite that, prediction sites agree that the price of AVAX will increase in the future, thanks to the project’s unique perspective.
According to PricePrediction, the average price will increase to $28 by 2023. A five-year prediction suggests that AVAX will reach around $134 by 2027, and that will further increase to $433 by 2030.
DigitalCoinPrice also has quite optimistic forecasts about AVAX, claiming it will reach $40 by 2023 and $248 by 2030.
In other words, investing in AVAX now that it’s down might not be a bad idea. Still, we recommend doing further research before making your move.
Basics of Solana
Created by Anatoly Yakovenko, Solana aims to become the main competitor to Ethereum, and it has been doing well on the road to its goal. What makes Solana stand out from the pack is the unique consensus mechanism, which introduces proof-of-history (PoH) and combines it with proof-of-stake (PoS). Thanks to this underlying structure, Solana can offer much greater scalability and usability. In other words, the transaction validation times and smart contract execution times are much shorter compared to the majority of similar projects.
Right now, Solana is in the top ten list based on the market cap, meaning it’s one of the largest blockchain projects in the world, and the current market cap is north of $11 billion. If SOL seems like a better option than AVAX, you can swiftly exchange AVAX vs Solana in crypto exchanges that accept this trading pair.
SOL Future Price
According to PricePrediction, the most Solana will reach in 2022 will be $41. However, the projected average price for 2023 is around $57. The five-year projection claims that a single unit of SOL will be worth $286, while the price will be around $830 by 2030. In other words, things look quite bright for Solana at the moment.
DigitalCoinPrice also has positive forecasts for SOL in the future. According to this platform, the average price of Solana will be $75 by 2023, and it will increase to $164 in five years from now. By 2030, the average SOL price will be $470.
What is the Best Option to Invest In?
As you can see, both projects are pretty successful at the moment, offering a unique perspective on cryptos, dApps, and more. However, it’s difficult to say which one is a better option to invest in, so we recommend doing further research to learn more about both projects before opting for one.