SOL - Solana: Buy the Dip?
The cryptocurrency market, like the stock market, has taken a beating in 2022, as its value has plummeted by roughly two-thirds through the first nine months of the year. Major central banks across the world are largely to blame, as they have tightened monetary policy and forced investors to shun the riskiest and most speculative financial assets.
In particular, Solana (CRYPTO: SOL) , which is the ninth-most valuable cryptocurrency with a market cap of $11.6 billion (as of this writing), is down more than 80% in 2022. Is now the time for investors to buy the dip on this top digital asset?
Like Ethereum , Solana's blockchain allows for the development of smart contracts . These are self-executable computer programs that run when two unrelated parties satisfy specific conditions. Requiring no intermediaries, smart contracts can dramatically increase the functionality of a blockchain.
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Solana: Buy the Dip?