Solana will be the 3rd crypto to be traced on the Bloomberg terminal after bitcoin and ethereum | Currency News | Financial and business news

Solana
Solana.

  • Solana is now the third cryptocurrency tracked by the Bloomberg terminal, after bitcoin and ethereum.
  • The cryptocurrency has been hailed as the “ethereum killer” for its potential for mass adoption.
  • Solana is the fourth largest cryptocurrency by market value.

Solana is now the third cryptocurrency tracked by the Bloomberg terminal to follow in the footsteps of bitcoins and ethereum.

The price tracking, titled “Bloomberg Galaxy Solana Index”, went live on the terminal on Monday as “the first institutional pricing source for Solana,” wrote Tim Grant, the European leader at Galaxy Digital, who partnered with Bloomberg to list the new crypto. Bloomberg did not immediately respond to a request for comment from Insider.

Solana is the fourth-largest cryptocurrency by market value, behind bitcoin, ethereum and binance coins, according to CoinMarketCap data.

The addition comes in the middle of Solana’s epic year, where it’s achieved about 1,300% so far, according to the Bloomberg tracker, and many of those gains come in the last few months alone.

Solana has become a popular currency among those who believe that it may one day overtake the ethereum as the choice for smart contracts. For example, Sam Bankman-Fried, head of the crypto exchange FTX, has said that solana has the capacity for mass adoption as it can run more transactions per second with fewer fees than ethereum.

And earlier this month, the product manager at Blockasset.co, an NFT marketplace built on the solana network, told Insider that the number of decentralized financing applications and non-fungible tokens using solana has been “the ultimate source of increased demand” for the coin .

Games to earn games have also been a source of solana hype.

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