Solana is a promising crypto investment today as it has a lot of ideal features when compared to others. For example, Solana offers speedy transactions for a lower price. It’s also climbing the ranks in non-fungible token (NFT) sales. Undeniably, it is worth the attention that it is getting at present.
But a lot of things can happen in a year. The value of cryptocurrencies skyrocketed even during the pandemic. The dominant cryptocurrencies became even bigger, and the smaller ones skyrocketed as well, turning a hundred-dollar investment into thousands, even millions of dollars. Of course, there are frequent highs and dips, but the changes are astounding.
Solana is one of those cryptocurrencies that have shown a huge improvement in just three years. Its investors are probably celebrating at the moment. Imagine how much you could’ve gained if you invested $100 in SOLANA in January this year. You will be surprised to know.
Interesting Facts about SOLANA
Solana is a public blockchain platform specially designed for decentralized apps. It is similar to other major dApps like the ones used by Ethereum and Cardano. The only difference is that SOL is an open-source project run by Geneva Solana Foundation, which is based in Geneva, Switzerland. It was developed along with Solana Labs. It has become famous for its speedy transaction and lower fees, which are not offered by other cryptocurrencies. It is also environmentally friendly as it uses less power due to Proof of stake (PoS) utilization.However, an unfortunate event happened in September 2021, when SOL blockchain went offline after a stream of transactions. This caused the network to fork. It was shortly brought back online the day after the incident.
As for the number of transactions SOLANA can handle, it is reported that 50,000 transactions per second can be performed. It is also described as the fastest programmable blockchain, meaning it has immense features and possibilities. With this capability, you can save a small code from the transactions, also called a smart contract.
Analyzing the Future of Solana
Early this month, all major cryptocurrencies experienced a sharp dip that has reportedly caused a loss of almost $1 Trillion combined value. Bitcoin, the number one Cryptocurrency to date, has fallen to lows of just over $45,000 per bitcoin, a more than 30% decline from last month’s market value.This has affected all other cryptocurrencies, including SOL. It has already peaked and is predicted to crash in 2022, as per Forbes.com. Exactly a drop of two digits percentage from their highs. The question now is, will it still be a good choice to invest in SOL in 2022? Would it make you richer?
If an investor is looking to obtain exposure to the cryptocurrency and blockchain service market, Solana is still a clear choice. Its application building capabilities suggest a superior risk-reward dynamic in the long run. It is safe to say, therefore, that SOL is still part of the top 3 altcoins to invest in 2022.
Final Thoughts!
The cryptocurrency market is almost unpredictable. Due to inherent risks, you must think thoroughly about whether or not to put in any cash. But there are upsides, too. If you’ve read about the stories of successful crypto investors, your perception might shift. You can profit from this new investment platform, and managing the risks is just a natural part of it.But as a rule of thumb, you should invest only the amount you’re willing to lose. Don’t get swept by the hype that you forget about your safe zone. SOLANA is a promising investment if you want to start small.