SOL token’s recent surge has brought more attention to the projects built on the Solana blockchain as investors seek the next crypto to explode. You might already be familiar with Solana-based NFT-minting platform Degenerate Apes Academy and Sunny DeFi crypto. Burnt Finance (BURNT) is one of the Solana-based projects that everyone is talking about now. What’s Burnt crypto's price prediction and is it a good investment?
Solana is an Ethereum-like blockchain that allows developers to build apps on it. Many DeFi and NFT projects have been launched on Solana and more are coming. Burnt Finance is among them. Solana’s popularity is growing rapidly because of its incredible speed and low transaction cost.
For example, while Ethereum can only support 45 transactions per second, Solana can handle more than 50,000 transactions per second. And the cost per transaction is a negligible $0.00025, while one Ethereum transaction fee can rise to hundreds of dollars because of network congestions.
What is Burnt Finance (BURNT) crypto?
Solana will only get better. In addition to being able to support more than 70,000 transactions per second in the future, Solana is adding other attractive features. For example, it’s connecting to other blockchains, which will enable developers to operate on multiple blockchains simultaneously.
Burnt Finance is a crypto asset minting and trading platform that will launch on Solana soon. In addition to other assets, Burnt will support NFT minting and auction. It has promised to offer quick minting and support a variety of auction formats to make NFT trading easy. The project has its own token called BURNT that will function as governance.
How many BURNT tokens are there and is the supply capped?
In addition to the governance function, the Burnt token will also be used to pay for purchases on the Burnt Finance platform. The details of Burnt tokenomics haven’t come out yet.
Is Burnt Finance crypto a good investment?
Many Solana-based projects are booming. For example, 10,000 Degenerate Apes NFTs were sold in a matter of minutes on debut. Burnt Finance could be a quick hit considering its focus on currently hot crypto trends like NFT trade.
Also, the project recently unveiled a new logo and fans are thrilled about it. Burnt has started offering private access for people to test its platform ahead of the public launch, which is expected at any moment.
Burnt Finance crypto price prediction
It might be tough to pin a price prediction for Burnt token considering that the Burnt Finance project hasn’t even launched. However, if the thousands of people who have joined the waitlist is anything to go by, Burnt Finance has elicited a lot of excitement. It suggests that many people are eager to buy the Burnt token once it launches.
While Burnt could be a major hit, prospective investors should keep in mind the regulatory risk that the DeFi and NFT markets face. The SEC is starting to take a closer look at DeFi projects. Recently, the SEC has been seeking information about how Uniswap works and markets itself.