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The month of September has traditionally been difficult for cryptocurrencies, with several big ones witnessing price declines throughout the month. For investors, however, it isn’t necessarily a terrible thing.

When prices are lower, it could be a good time to purchase. Buying the drop not only enables you to invest in pricey cryptocurrencies for a fraction of the price, but it may also position you for higher profits should prices rise again.

All cryptocurrencies are still speculative at the present, but Solana (SOL -4.79%) and Ethereum (ETH -1.90%) may be on the verge of seeing a more substantial rise.

1. Ethereum

Although Ethereum has long been a leader in the cryptocurrency industry, news about its most recent development, The Merge, has recently gained attention.

One of the most significant moments in the history of cryptocurrencies will occur when Ethereum switches from a proof-of-work (PoW) mining protocol to a proof-of-stake (PoS) system as a result of this upgrade. Due to the network using 99% less energy under PoS, it will also become much more energy-efficient.

Ethereum’s slow speeds and hefty transaction prices are a drawback. Sadly, The Merge won’t make those problems go away. However, it will lay the ground work for Ethereum’s next upgrade, which is anticipated for either 2023 or 2024 and should speed up and reduce the cost of the blockchain.

With a market valuation of over $209 billion, Ethereum has long held the title of second-most popular cryptocurrency. The Merge is a step in the right direction for Ethereum since it gives it a big edge over many other networks.

2. Solana

In many respects, Solana and Ethereum are comparable. It is a platform for smart contracts that supports decentralized programs like non-fungible token (NFT) markets. Despite being much smaller than Ethereum, it has one key edge over its greatest rival: speed. At the moment, it is the ninth most popular cryptocurrency with a market worth of around $13 billion.

The Ethereum network can only handle around 13 transactions per second at the present (TPS). However, Solana is managing around 3,000 TPS. Its top speed, according to the creators, is around 65,000 TPS.

Due of Ethereum’s slowness and exorbitant fees, a large number of developers and consumers have started turning to Solana. There is still plenty of time for Solana to acquire popularity in this market given that it will likely be one to two years before Ethereum releases its next version to solve these problems.

Of course, there are drawbacks to Solana as well. Its current network instability is one of its most urgent issues. Solana has had five significant outages in 2022 alone, some of which lasted for many hours.

The trust of consumers and investors has been understandably disturbed by these interruptions, which may have contributed to Solana’s sharp drop this year. All blockchains, meanwhile, sometimes have glitches and outages, so Solana’s developers need to figure out how to make the network more dependable if they want to make it a serious player in the cryptocurrency space.

While there is no ideal cryptocurrency, both Ethereum and Solana have certain benefits in the industry. Nobody can predict how they will do in the future, but they could be about to see significant growth.

Author: Blake Ambrose

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