Solana VS Polkadot. Here’s all you need to know. Normally juxtaposed with Cardano, Solana is now changing rivals with Polkadot and competing to be the prima donna of their respective investors.
This phenomenon occurred after the DOT coin recorded high profits in the 3rd quarter of this year. With 150% gains throughout August and September, institutional interest is also peaking.
Solana VS Polkadot
According to data reported by Messari, the crypto asset most frequently owned by investors throughout the 3rd quarter of this year is Polkadot.
Most Common Assets Owned By Crypto Funds in Q3
Meanwhile, when viewed from the top assets invested, Solana has the highest circulating market cap that leads all altcoins.
Solana also shows an ROI v. USD was high at 9837.50%, and had a solid performance throughout the year.
Meanwhile Polkadot was greatly helped by its parachain slot auction which increased the transaction volume on the network.
The DOT coin even hit an all-time high because of the update.
Additionally, news outlets such as DFG Group, which controls $1 billion in AUM, announcing that it pledged 300,000 Polkadots worth $12.65 million to support Astar Network’s parachain offering, also contributed.
And to recap, Solana’s and Polkadot’s network over the course of the year’s end, has actually garnered a lot of institutional interest.
However, for now Polkadot is still far below Solana. With a record record and innovation that continues to grow, it looks like DOT will crawl up to rival SOL in the near future.
The Bad Side…
After Bitcoin’s big correction on November 16, neither the DOT nor the SOL have held up as expected. One of the reasons behind this is of course the relatively weak retail euphoria.
Solana prices are down 12% over the past week, while DOT is down 17% over the same period.
DOT trading volumes, apart from recent ATH, do not match the predicted levels made in early September.
Solana’s case is also not much different. SOL could not maintain its price and continued to shift positions with the ADA coin to maintain the TOP-5 position.
However at the time of writing, SOL is still superior to ADA.