Avorak (AVRK) has made significant strides in the crypto world in its initial coin offering phases. The recent announcement by the AI crypto project has led some crypto watchers to suggest that Avorak could challenge Solana’s (SOL) top 10 rankings.
What is Solana?
Solana is an L1 (Layer-1) blockchain platform that aims to provide a faster, cheaper, and more scalable platform than its predecessor Ethereum. Solana has many projects spanning DeFi, NFTs, Web3, and beyond. The Solana network combines proof-of-stake (PoS) and proof-of-history (PoH) consensus to achieve high throughput and fast, inexpensive transactions. SOL is the network’s native token to settle transaction costs, staking, and governance.
Will Solana recover?
Solana (SOL) fell significantly below its all-time high, largely due to its relationship with FTX and Alameda Research. Solana has also had frequent outages, which has seen SOL’s price dip several times. Additionally, Solana falls under what is dubbed ‘Ethereum killers,’ and there has been much debate about the viability of these projects with Ethereum’s recent upgrades and developments. Nonetheless, Solana (SOL) has attracted many developers and projects with its speed and low-cost transactions. Additionally, SOL has been on an overall increase in 2023, and the recent launch of Saga and other developments could see Solana recover. However, many analysts suggest that this may take some time.
Can Avorak AI (AVRK) reach Solana (SOL)?
Avorak is well-positioned to lead the AI crypto bull run and has showcased its ability to compete with established projects.
Avorak’s popularity has been attributed to many things, but majorly is its first-to-market strategy. Avorak provides a comprehensive set of unique, effective, and easy-to-use AI-driven solutions, exemplified by the Avorak AI trading bot. Unlike many trading bots that require complex coding, Avorak’s trading bot employs a user-friendly command-line input system that utilizes standard scripts. The Avorak Trade bot automates trades across multiple exchanges and provides traders with price predictions and a large set of indicators.
Avorak AI also recently announced the launch of their NFT collection, which caused quite a stir in the crypto community. Avorak’s NFTs combine AI technology, blockchain, and digital art, offering collectors a truly unique and immersive experience. Beyond their aesthetic appeal, the Avorak NFTs have exclusive benefits and utilities for their owners. For example, Avorak NFT holders get free lifetime access to Avorak Trade. The Avorak NFT holders also receive a 50% discount on credits on Avorak Create and Avorak Write. Avorak Create is an innovative AI image generator, while Avorak Write is an AI text creator that produces high-quality and non-plagiarised texts.
The native token of Avorak AI is AVRK, and it serves several utility functions within the ecosystem. It functions as credit for accessing Avorak’s AI services and can be used for incentivized liquidity provision through decentralized exchanges (DEXs). Users can receive additional credits of AVRK through Avorak’s staking and ‘revenue feedback’ system. The influx of investors in the project’s ICO led to an increase in AVRK’s launch price to $1.
Additionally, several centralized exchanges (CEXs) have already announced the exact date of listing AVRK, which is also a positive sign. According to several analyses, AVRK could be 100x in value. And if that were to happen, AVRK could reach SOL. Nonetheless, the crypto market is unpredictable, and whether Avorak AI (AVRK) can reach the top 10 cryptocurrencies remains to be seen.
For more information on Avorak and its ICO:-