Co-founder of Syncracy Capital Forecasts Solana (SOL) to Reach $200 by May’s Conclusion

Headline: Syncracy Capital Co-founder Predicts SOL to Reach $200 by End of May, Showing Confidence in Solana’s Potential for Growth

Solana’s native token (SOL) has been making significant waves in the cryptocurrency market, reaching a price of $174 on Saturday, its highest in over a month. This surge has caught the attention of industry leaders, including Daniel Choung, co-founder of Syncracy Capital, who predicts that SOL will rise to $200 by the end of May.

Choung’s recent tweet emphasizes SOL’s exceptional performance, describing it as the standout trade of the current market cycle. He expresses firm confidence in SOL’s potential to reclaim $200, signaling a complete reversal on the monthly timeframe and potentially leading to all-time highs. Choung’s optimism stems from SOL’s consistent upward trajectory and its ability to withstand market challenges.

Choung also highlights the highly anticipated “Frankendancer” upgrade within the Solana ecosystem. This upgrade is expected to bring significant enhancements and optimizations, further boosting SOL’s performance and adoption. With the Frankendancer upgrade on the horizon, investors are increasingly optimistic about SOL’s potential to reach new all-time highs.

In addition to its price surge, Solana has emerged as the fastest blockchain among large blockchains, according to recent data from CoinGecko. Its daily average transactions per second (TPS) reached a record high of 1,504 on April 6th, 2023, making it 46 times faster than Ethereum. Solana’s TPS is also more than 5 times faster than Polygon (MATIC), currently the Ethereum scaling solution with the highest TPS. Despite these impressive numbers, Solana has only achieved 1.6% of its theoretical maximum speed of 65,000 TPS, indicating room for further improvement.

Investors eagerly await Solana’s upcoming upgrades to see how quickly the network can achieve even higher real TPS and continue its growth.