Daniel Choung Bullish on SOL's Performance Amidst Strong Market Momentum and Upcoming Network Upgrades

Solana's native token (SOL) is making significant strides in the cryptocurrency market, recently hitting $174 and consolidating around $166, marking its highest price in over a month. This surge has caught the attention of industry leaders, including Daniel Choung, co-founder of Syncracy Capital, who predicts SOL's rise to $200 by the end of May.

In a recent tweet, Choung underscored SOL's exceptional performance, labeling it as the standout trade of the current market cycle. He expressed firm confidence in SOL's potential to reclaim $200 by the end of May, signaling a complete reversal on the monthly timeframe and potentially paving the way for all-time highs (ATHs). This optimistic outlook is rooted in SOL's consistent upward trajectory and its resilience in the face of market challenges.

Choung also highlighted the upcoming "Frankendancer" upgrade within the Solana ecosystem, describing it as a highly anticipated development. This upgrade is expected to introduce significant enhancements and optimizations, further bolstering SOL's performance and adoption.

With the Frankendancer upgrade on the horizon, investors are increasingly bullish on SOL's potential to achieve new ATHs.

Recent data from CoinGecko reveals that Solana has emerged as the fastest among large blockchains, with its actual daily average transactions per second (TPS) reaching a record high of 1,504 on April 6th, 2023. This remarkable speed positions Solana as 46x faster than Ethereum.

Additionally, Solana's TPS surpasses that of Polygon (MATIC), currently holding the highest TPS among Ethereum scaling solutions, by more than 5x. Despite this impressive performance, Solana has only achieved 1.6% of its theoretical maximum speed of 65,000 TPS, indicating significant room for improvement. The network's upcoming upgrades will be closely watched to see how quickly it can achieve even higher real TPS.