SOL to Be Standout Altcoin of 2021 Due to NFT and DeFI Projects

Solana Continues to Attract Wide Interest With almost a 500% increase since August, it would appear that Solano (SOL) will be one of the standout alts of 2021. But why? The fact of the matter is that this alt has won investors over with all of its use cases. With its hand in the proverbial pie of both NFTs (non-fungible tokens) and a whole mass of DeFi (decentralized finance) in the mix, most crypto enthusiasts agree that the outlook for SOL appears very rosy indeed.

DeFi Projects with Billions in Locked Value Of course, SOL's DeFi projects taking center stage, even traditional investors have had their interest piqued by the high values. With outfits like CoinShares shouting its promise from the mountaintops, it is hard to imagine a world in which SOL could possibly fail at this point. Of course, crypto being crypto, SOL could still fall in some way. There are detractors who believe that its competition with ETH might not be a good thing in the future, but these people are few and far between. More common are the investors who are pouring money into SOL.

Derivatives Market Goes Completely Wild for SOL The indicators have been off the charts for SOL. Surprisingly, Solano has even surpassed Cardano and Polkadot in futures interest. Suddenly, whales have become interested in SOL in a big way. Even an outage — that lasted almost an entire day in September — has not been able to hold Solano down. With so many institutional investors involved, it seems as though this alt can do no wrong lately. Although the outage did result in a hard fork, Solano supporters have just kept persisting though every obstacle imaginable. With many people tracking tweets about SOL, its trading movements and recent movements in price, there is no surprise that the market has become so incredibly bullish about this alt.