Up almost 20% in the past 24 hours, Solana (SOL) has been on an incredible rally across the board. In higher timeframes, the cryptocurrency records a 70% and 141% profit in the 7 day and monthly chart. Perceived as one of Ethereum’s potential killer ecosystems, Solana continues to grow and attract attention from the crypto space. DeFi investor Daniel Cheung recently published a report on the fundamentals that support further appreciation for SOL’s price. Cheung believes this cryptocurrency offers one of the “best” reward/risk scenarios for any crypto investments and predicted the arrival of the “Solana Summer”. This project has a straightforward pitch due to its high scalability and low-cost smart contract platform. In addition, it provides a high level of scalability in an ecosystem without solutions such as sharding. Cheung believes that these features allow the application build on Solana to have “synchronous composability”. This matters because with a single shared state and synchronous composability every application on Solana can communicate with each other atomically. As Ethereum moves forwards with its migration from a Proof-of-Work consensus algorithm to Proof-of-Stake, its DeFi ecosystem could lose this property. Thus, some applications could become less interoperable with each other or stop working altogether. The Bearish Case For Solana, What Could Prevent More Gains As NewsBTC reported, the Solana Foundation launc...
