Is it a good time to buy Solana? Yes, It Is

Is it a good time to buy Solana? Yes, It Is

Is it a good time to buy Solana? Considering the current market condition, it is the right time to buy Solana.

In the last 24 hours, Solana lost its momentum once again and it is trading on the verge of crashing below $40 once again. The overall market cap of Solana is down 6% in the last 24 hours. The social media sentiment for Solana is negative and the trading volume has collapsed. The overall technical recommendation for Solana for the next 24 hours is SELL.

Is it a good time to buy Solana? Read our Analysis

What is Solana?

Solana is an open-source, high-performance, permissionless project that enables developers to create decentralized apps (dApps). It is often regarded as the “Ethereum Killer” because it is designed to solve many issues associated with the Ethereum blockchain. 

Solana utilizes a combination of PoS and PoH consensus models to verify and record transactions. This combination allows Solana to process transactions faster and with a meager cost. In fact, the transaction fees charged by Solana is just a tiny part of the second-largest Blockchain (ETH). Solana has been mentioned by most websites as the best cryptocurrency to invest in 2022, Read here

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Here are some positives for Solana

  • Solana has lightning-fast speed as compared to other Layer-1 Blockchains.
  • Solana can process over 50,000 transactions per second (TPS), whereas Ethereum can just process within a range of 15-45 TPS
  • Solana has gained by over 62,000% since its launch 
  • Solana ranks #1 in TVL, users and derivatives markets
  • Solana is currently gaining much traction with Solanart (NFT platform), which hosts minimum fees and high transaction speeds.

That said, Solana has encountered multiple security and technical issues in December and January causing the Coin to underperform in January. Unless such issues completely stop occurring, the risk in investing in Solana is higher than in Ethereum.

Is it a good time to buy Solana: Will Solana Go Up Its All-Time High?

Will Solana Go Up again depends on some factors. By studying the monthly chart for Solana, one can understand the long-term journey for this particular cryptocurrency. According to the chart, Solana is currently following the Bullish trend. Therefore, the price prediction for Solana in 2025 remains bullish, indicating that Solana is a good investment.

Is it a good time to buy Solana: Will Solana Go Up to Its All-Time High?

Solana was remarkable in 2021. But, if we consider its performance in 2022. Solana’s network has suffered many technical glitches in the last few months. With every technical glitch, the SOL price has declined massively. But, given its increasing utility and community, SOL can be an integral part of the Crypto sector.  So, to answer, Will Solana Go up again? Looking at the current momentum, it is very likely that Solana will go up and indeed has the potential to tap ATH soon.

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions

Is it a good time to buy solana

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