SOL - Is Now the Time to Buy This Crypto?
Solana (CRYPTO: SOL) was one of last year's cryptocurrency stars. It soared more than 11,000% as investors bet on its ability to transform the worlds of business and entertainment. But two elements have weighed on the crypto player this year: the general market environment and outages on the Solana network. As a result, Solana has dropped 81%.
Still, Solana continues to be popular with users and continues to innovate. So you may be asking yourself: After big losses, is now the time to buy this beaten-down player? Let's find out.
First, here's some background on Solana. It's a blockchain with a native cryptocurrency called "SOL." Solana is particularly known for its speed. It can process as many as 65,000 transactions per second at a cost close to zero.
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Is Now the Time to Buy This Crypto?