Cathie Wood, the CEO of ARK Invest, provided her insights on the velocity and transaction expenses associated with Bitcoin, Ethereum, and Solana.
According to Wood, Solana, an alternative to Ethereum, is regarded as the swiftest and most economically efficient among the aforementioned assets.
The price of SOL had a significant increase of over 10% within a single day, resulting in investors of the cryptocurrency obtaining gains in the double-digit range.
During an interview with CNBC's Squawk Box, Cathie Wood, the Chief Executive Officer of ARK Invest, expressed her perspectives on Bitcoin, Ethereum, and Solana. Wood provided an analysis of blockchain protocols utilized in payment systems, examining their cost-effectiveness and drawing comparisons across the three assets.
Cathie Wood has optimistic perspectives toward Solana.
The Chief Executive Officer of ARK Invest delivered a discourse on the participants involved in the infrastructure aspect of the blockchain ecosystem. During the discussion of ARK's upcoming launch of five new ETFs, Wood provided her perspectives on the field of cryptocurrency. The exchange-traded funds (ETFs) consist of a diversified combination of Bitcoin futures, Ethereum futures, and a diverse selection of firms that are exposed to Bitcoin and equities markets.
Wood provided an analysis of contemporary cryptographic protocols, whereby she conducted a comparative evaluation of their cost-effectiveness and speed. According to the CEO of ARK Invest, it was observed that Ethereum originally exhibited superior speed and cost efficiency compared to Bitcoin. Nevertheless, Solana has currently exceeded the second most significant blockchain technology in terms of these dimensions. During the discussion on Bitcoin and Bitcoin-related equities in the field of cryptocurrency, Wood emphasized the significance of Solana's contribution to the blockchain industry.
Solana exhibits a notable propensity for generating daily profits in the double-digit range for its holders.
The currency that serves as an alternative to Ethereum had a significant surge, resulting in an increase of 11.50% in value for holders of SOL tokens over the previous 24-hour period. The Solana token has had a notable increase of 46% throughout the previous week, reaching a price level of $63.20. This is the first instance of the token reaching this price point since May 2022.
The price of SOL saw a rebound following the decline caused by the collapse of the FTX market, subsequently reversing its downward trajectory that had persisted for several months, occurring in the middle of October 2023. As at the present moment, the price of SOL on the Binance platform is at $63.20.
