SOL - Solana in 2 Figures: Is It a Buy?
2023-05-02 06:35:00 ET
Solana (CRYPTO: SOL) has been one of the surprising crypto success stories of 2023. After a disastrous 2022 that saw it lose 94% of its value, Solana is churning out triple-digit returns for investors this year. Solana now trades for $22.35, more than double its value at the end of 2022.
While Solana's performance has been impressive, it's time to look under the hood to see whether this performance is sustainable over the long run. If you are thinking about buying Solana right now, there are two key figures to consider.
For the year, Solana is up 127%. That performance is better than any other cryptocurrency currently ranked in the top 25 by market capitalization. In comparison, Ethereum (CRYPTO: ETH) is up "only" 59% and Bitcoin "only" 76%. On the TradingView chart below, it's possible to see just how significantly Solana has outperformed Bitcoin this year.
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Solana in 2 Figures: Is It a Buy?