Solana has outpaced other major cryptocurrency assets by approximately 200% in the last month. has set new yearly highs, rising more than 17% the day after ARK Invest CEO Cathie Wood praised the network’s efficiency and cost-effectiveness. Wood identified the Solana network as a crucial infrastructure component in the larger blockchain ecosystem in a Nov. 15 CNBC interview, adding that it has been performing a “really good job” under recent market conditions. Wood lauded the Solana network for being more efficient and speedier than the Ethereum network.
“Back in the day, Ether was faster and cheaper than Bitcoin — that’s how we got Ether.” Solana is faster and less expensive than Ether.” Wood described Ethereum and Solana as vital infrastructural layers capable of more real-world uses than Bitcoin. While the overall crypto market is rising, Solana’s gains have exceeded those of other big cryptocurrencies, increasing by more over 197% in the previous month. Meanwhile, Bitcoin is up 32% and Ethereum is up 28% in the same span.Wood also addressed the current market anticipation for a flood of new spot Bitcoin ETF products, stating that it is critical to stay focused on Bitcoin’s fundamental significance as “the money revolution” and not get too caught up in short-term price activity. She acknowledged the possibility of a “sell on the news” scenario, in which investors’ expectation of an approval outpaces market demand for the actual event, resulting in a fast selloff in the days after.