Invest in Solana and Benefit from Cathie Wood’s Praise of Its Speed and Cost Over Ethereum

Cathie Wood Praises Solana Network

ARK Invest CEO Cathie Wood recently praised the Solana (SOL) network for its efficiency and cost-effectiveness, resulting in the cryptocurrency reaching new yearly highs with a 17% increase.

In a Nov. 15 CNBC interview, Wood highlighted the Solana network as a major player in the blockchain ecosystem, noting it was doing a “really good job” in the recent market conditions.

Wood also compared the Solana network to Ethereum, claiming it to be faster and more efficient. She described both networks as important infrastructure layers for web 3.0, capable of facilitating real-world applications.

Solana’s Performance Outpaces Other Major Cryptocurrencies

The crypto market is on an uptrend, however, Solana’s gains have far surpassed those of other major cryptocurrencies, with a 197% increase in the last month, compared to only 32% for Bitcoin (BTC) and 28% for Ether (ETH). Currently, Solana is trading at just over $66 per TradingView data.

Gavin Wood on the Bitcoin ETF Products

Gavin Wood discussed the current market anticipation for the upcoming Bitcoin ETF products, emphasizing the importance of focusing on Bitcoin as “the money revolution” and not becoming too preoccupied with short-term price action. He acknowledged that there may be a “sell on the news” effect, where the demand for the event surpasses the market demand, leading to a quick selloff in the days following.

How to Invest in Web 3.0

Investors have been asking how to invest in Web 3.0, and whether Metaverse and Web 3.0 are the same. Others have been wondering if Web 3.0 is blockchain-based, and how to get Web 3.0. Gavin Wood has provided some insight on the topic, and it is important to understand the underlying significance of Web 3.0 and make informed decisions before investing.