Solana network has been the talk of the DeFi market recently, due to its excellent performance. Since 2016, Ethereum has been the best DeFi development network for new devs, but with Solana’s recent network reports, the mantle has been hijacked.
While Solana now holds up to 7,625 new developers, surpassing Ethereum, analysts are positive that this could further brighten its price sentiment. Meanwhile, a new PayFi network, Remittix (RTX), just emerged with a ground-breaking approach to simple everyday fiat transactions with a distinct crypto-to-fiat model. Its recently started presale is already pulling in significant interest, showcasing its potential to rise exponentially as a DeFi project.
Solana Network Becomes the Biggest Host for New Devs
Although the price of Solana (SOL) has been consolidating to lower levels since its last peak price and ATH of $263 on November 23; albeit, it has managed to attract bullish sentiment still. Aside from the SOL token, Solana network is also gaining positive sentiment due to its recent milestone of topping Ethereum as the best blockchain for new developers.
According to a recent post made by Solana (SOL) on X (formerly Twitter), the blockchain network was announced by Electric Capital as the number 1 ecosystem for new developers, surpassing Ethereum for the first time ever. Aside from gaining a whopping 7,625 new developers on its network, Solana has become the fastest growing network when its monthly active developers are considered.
Meanwhile, this growth represents an 83% YoY rise, surpassing Internet Computer and Base network with 75% and 50%, respectively. While this bolsters Solana’s dominance in the DeFi market, it also suggests the possibility for SOL token to register a new ATH soon. Likewise, with over 1.7 million unique active wallets, Solana network holds the highest scalability rate—- seven times more than the next biggest chain.
Remittix’s Expansive Crypto-to-Fiat Payment Features to Disrupt PayFi Market
Combining the speed of crypto transactions with the familiarity of fiat currencies, Remittix (RTX) has emerged with the aim of redefining cross-border payments so that cost-effective and seamless everyday transactions can be more accessible. One of the main attributes of this DeFi project is that it offers flat fees while canceling out hidden charges, whether you’re making large or small-scale transactions.
Essentially, the DeFi platform allows users to send over 40 crypto assets which can be remitted in fiat to traditional banks anywhere in the world. Meanwhile, considering its focus on building a trustless platform, Remitiix network has undergone smart contract audit via SolidProof, proving its commitment to enabling secure transactions. These transactions, however, are irreversible. With this, businesses don’t have to worry about chargebacks.
Aside from easy, convenient, fast and secure crypto-to-fiat transactions, where the recipient can’t even tell that the funds they receive started with a crypto process, Remittix strategically employs stablecoins. This is to mitigate the risk that comes with cryptocurrencies. With all of these robust features, it’s no wonder why its presale is selling out fast with only $0.015
What Potential Does Remittix Have To Challenge Solana’s DeFi Dominance?
Remittix can potentially challenge Solana’s DeFi market dominance due to the way its network targets the PayFi market with innovative crypto-to-fiat solutions. As it offers very convenient and cost-effective global transactions and improves accessibility and business integration on the blockchain , its network is poised to contend with Solana strongly.
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