RJ Pierce, Tech Times
Solana crypto gained probably its biggest fan in boxing legend Mike Tyson, who has professed his all-out support for the digital currency.
(Photo : JC Olivera/Getty Images)
MALIBU, CALIFORNIA – DECEMBER 12: Former professional boxer Mike Tyson attends Celebration of Smiles Event hosted by Dionne Warwick on her 81st Birthday to benefit medical charity organization, Operation Smile and The Kind Music Academy on December 12, 2021 in Malibu, California.
According to a report by Bitcoin.com, the former heavyweight world champion known as “Iron Mike” asked his considerable Twitter following about their thoughts on how high Solana (SOL) will go.
Before this question, Tyson noticeably asked his followers to pick between Solana and Ethereum:
Solana or Ethereum?
— Mike Tyson (@MikeTyson) September 9, 2021
He was also reportedly curious about Bitcoin last year, once again asking his fans which they’d prefer between BTC or ETH.
After that question, the boxing legend is now one of the multiple celebrities who are investing in cryptocurrency-and most notably, NFTs.
Tyson famously posted an NFT he bought from the Catalina Whale Mixer collection recently. It features the image of a shark stylized to look like Tyson himself (complete with his iconic face tattoo.
The whale image itself is built on the Solana blockchain, further cementing his “all-in” support for the currency:
All in on Solana… Just copped a Catalina Whale… pow pow! pic.twitter.com/97voS15B8y
— Mike Tyson (@MikeTyson) January 12, 2022
Iron Mike was also involved with an NFT project that tackled mental health. According to BoardRoom, the project was a collaboration with TheDreamChain, a cryptocurrency built on the Solana blockchain.
Solana, despite not being as famous as Bitcoin or Ethereum, is actually among the largest cryptocurrencies in the world by market cap. As of this writing, SOL has a market cap of over $45 billion, according to CoinMarketCap. The price of each coin stands at around $140, with highs of as much as $150.
There are roughly 314 million SOL coins in circulation as of the moment. Its overall value famously rose a massive 4,495% during the past year, which made it the brief talk of the town last year.
(Photo : Jakub Porzycki/NurPhoto via Getty Images)
Solana logo displayed on a phone screen and representation of cryptocurrencies are seen in this illustration photo taken in Krakow, Poland on August 21, 2021.
Is Iron Mike Being Smart About Solana Crypto?
With how the cryptocurrency has been performing lately, maybe he is.
Aside from the massive price increase, SOL is also gaining traction as a popular alternative to Ethereum (ETH), according to Fool.com. ETH is the second-biggest cryptocurrency in the world in terms of overall value, but its network has been quite congested recently. Furthermore, ETH transaction fees have climbed up in recent times.
(Photo : Image from DrawKit Illustrations on Unsplash)
Ethereum Average Transaction Fees at $46.22 with AVAX Fees at Just $0.000004
Another big advantage that SOL’s proponents mention is its speed. It is considered as the fastest one of its kind; allegedly able to process roughly 50,000 TPS (transactions per second). In comparison, ETH processes can only manage 15 to 45 TPS.
Celebrities And Cryptocurrencies
Tyson joins a veritable list of A-list celebrities that has expressed a considerable interest in cryptocurrency and NFTs. The list includes Snoop Dogg, Elon Musk, Lionel Messi, Paris Hilton, and Kim Kardashian, who were included in a list by CoinTelegraph.
These names were among the most vocal about digital currencies in recent times, though some of them met a bit of controversy: specifically Kardashian, who was sued along with several others in a so-called “crypto pump and dump” case involving EthereumMax, reports the BBC.
Related Article: Top 10 Most Promising Crypto Projects in 2022
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Written by RJ Pierce
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