The central part of the crypto community’s attention has been focused on Ethereum and Bitcoin lately.
Ethereum has been the center of the smart contract industry since its migration to PoS, while investors follow Bitcoin closely to predict the next move the market will make.
That being said, some of the more recent blockchain protocols, like Solana and Avalanche, also have a lot to offer, even in this bear market.
In this article, we analyze these projects and compare AVAX vs Solana to see whether one has the edge over the other.
To achieve this, we will provide some fundamental analysis of each of these tokens and gather some price predictions from experts around the internet.
This should give you a good idea of which is better: Avalanche or Solana.
What Do We Know About Avalanche?
Avalanche is an open-source smart contract protocol released in 2020, just before the major part of the bull market of that period.
This allowed it to experience some very strong upside price action right after launch.
More importantly, we should note that Avalanche gained a lot of popularity in the smart contract industry by providing a much more scalable network than Ethereum.
This allowed users to launch DeFi dApps that were cheap to use and extremely fast.
To reach this high scalability, Avalanche uses PoS and a triumvirate of chains:
- The exchange chain, which serves to transfer assets.
- The contract chain, which runs the smart contracts.
- The platform chain, which coordinates the validators and staking mechanisms.
By handling a portion of the computational strain, these chains allow Avalanche to achieve 50k+ transactions per second and conserve very low gas fees.
AVAX Price Prediction
The AVAX token was one of the high-performers of the bull market in 2021, reaching as high as $146 per token.
That said, the bearish conditions have pushed the price much lower now, around $16.
Even so, analytic websites are still very much hoping that the token will grow in value in the upcoming years.
Digitalcoinprice.com provides a target of $28.99 for 2023 and goes as high as $91.97 for 2030.
Priceprediction.net is a lot more bullish, with a forecast of $28.44 for 2023, and a target of a staggering $405.84 for 2030.
Consequently, this might be a great opportunity for purchasing this token on exchanges like Godex.
Key Facts About Solana
Solana is one of the most highly praised blockchains of the past couple of years.
This ultra-scalable chain uses Proof of History in tandem with PoS to achieve 100k transactions per second, which makes it one of the fastest smart contract networks on the market.
This has allowed the chain to gather thousands of developers deploying various dApps on the chain, in all categories.
Consequently, it has become one of the main rivals to Ethereum and managed to enter the top 10 cryptos by market cap.
SOL Price Forecast
Like AVAX, the SOL token performed admirably in the bull market.
From a median price of $0.5 in 2020, SOL reached as high as $260 at the peak of the bull market.
It has currently retraced around $28 per token.
Priceprediction.net hopes to see SOL reach $52.58 by 2023.
For 2030, their forecast targets the $605.14 mark.
Digitalcoinprice.com is less enthusiastic, with targets of $51.43 for 2023 and only $165.52 for 2030.
Main Differences Between AVAX and SOL
Here’s AVAX vs SOL at a glance:
|Network ValidatorsBlock TimeConsensus MechanismTransaction FeesEVM Compatible||1,229~2 secondsPoS$0.01Yes||2,093400 millisecondsPoS + PoH$0.00025No|
Is AVAX Better Than Solana?
Avalanche and Solana have similar use cases, although their architectures are vastly different.
Solana remains faster and cheaper than Avalanche, while the latter has the advantage of being EVM-compatible.
In all fairness, both blockchains have their benefits and drawbacks, and from an investor’s point of view, they are equally interesting to have in your portfolio.
Related: How to Invest in Cryptocurrency for Beginners
Follow me on Twitter, Instagram, Facebook, or LinkedIn for daily posts.