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Is It the Right Time To Swap SOL For ETH?

Although the tagline was never official, Solana has become famous due to the claims that it’s the “Ethereum killer.” Today, it seems that this platform deserves its place in the crypto world, but it’s far from actually harming Ethereum. Does that mean you should convert SOL to ETH

If that’s a move you are considering, check out this guide first. It tells you more about the currencies and their future prices to assist in picking the right trading moment.

What Is SOL?

While comparing SOL vs. ETH is important, it’s vital to understand how both currencies work first. We’ll start with Solana, which was launched in 2017. It’s a layer-1 blockchain with a smart contract feature, which indicates that Solana supports decentralized apps. 

The network has a rich ecosystem with various DeFi, payment, and other projects. Some popular ones include the Secretum messaging app, the Star Atlas game, and the Phantom digital wallet. Solana uses the proof of history consensus mechanism, which varies from the classic proof-of-stake because it calculates time differently.

Solana is now worth $24, with a market cap of around $9 billion. SOL is the network’s native token, and there are over 413 million SOL in supply, with the total set at more than 558 million SOL as of writing time.

What Is ETH?

Ethereum is a blockchain that supports building dApps by utilizing the smart contract feature. The network uses proof of stake, which uses currency staking as the security mechanism. Ethereum is incredibly popular among developers, with many famous dApps present on this platform. The most notable names include the Storj cloud storage, the Decentraland social world, and the Lido liquid staking protocol.

For a long time, Ethereum has been struggling with the capability of processing transactions quickly. Ethereum 2.0 version promises to increase TPS to up to 100,000 and aims to resolve many scalability issues that the network has.

ETH is the best-ranked altcoin, with the current value set at $1,600. There’s no maximum supply, and there are currently 120,240,729 tokens in circulation. Ethereum has an impressive market cap set at $200 billion.

SOL vs ETH Future Price

Solana’s current worth is actually beyond some expectations for 2023, but it likely won’t change much before the year ends. In 2024, the value will reach at least $29.54, although some optimistic pundits even place it at over $40.90. For 2025, SOL’s expected worth is anywhere from $40 to $74.88.

As for long-term forecasts, Solana’s value could be $138.65, although more cautious experts place it at $92.43. In 2030, the value is anywhere from $163.44 to $246.07.

Now, let’s proceed with Ethereum, which should at least keep its current value during 2023. Most pundits don’t believe ETH will exceed $2,335.23, but the forecast for 2024 is better. It puts the coin’s worth anywhere from $2,933,16 to $4,437.25. The trend of rising will continue in 2025, with ETH’s value placed anywhere from $3,200 to $6,564, according to expectations.

Long-term Ethereum forecasts are optimistic, and they put the token’s value at anywhere from $9,171.21 to $15,883.47 in 2028 and at $14,171 to $31,983 by the decade’s end.

Top 3 Platforms for SOL to ETH Exchange

If you are ready to swap Solana for Ethereum, here are the best exchanges for the conversion:

  1. Godex. Godex is based on the core crypto principles, which include no-limit trading and privacy. No personal data or registration is necessary to convert more than 300 coins, and the platform will even ensure you get a rate fixed for 30 minutes.
  2. Binance. It’s the largest crypto exchange worldwide, with millions of active users. Apart from supporting thousands of different trading pairs, you can buy and sell crypto with fiat, earn interest, and stake and loan tokens and NFTs.
  3. SimpleSwap. SimpleSwap is a decentralized exchange, meaning you don’t provide personal details to execute a SOL to ETH or any other trade. It offers a user-friendly interface and supports a generous range of cryptos.

The choice of exchanges is vast, but if you choose one of the above, you won’t miss.

Time to Swap SOL to ETH

Both currencies are likely to grow in the coming years, although ETH is valued more, which means its increase could yield a higher profit per token owned. Also, Ethereum has been firmly placed as the top-ranked altcoin for years. That likely won’t change, making this a great time to convert SOL to ETH.

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Michelle Yancy
Michelle Yancy
Michelle Yancy is a tech blogger who loves to write about the latest gadgets and apps. She's always on the lookout for new and innovative products, and she loves to share her findings with her readers. Michelle is also a big fan of travel, and she enjoys exploring new places whenever she can.
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