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SOL - Solana Is Down 68% From Its All-Time High: Time to Buy?
Renesola Ltd. ADR
2024-01-27 05:30:00 ET
Putting money to work in the cryptocurrency market is back in style. The industry saw its value double in 2023, so some investors are trying to buy digital tokens that can supercharge their portfolio returns.
Look at Solana (CRYPTO: SOL) . This cryptocurrency skyrocketed 963% last year, and it's currently the fifth most valuable blockchain network in the world.
However, Solana remains 67% off its peak price (as of Jan. 25). Does this mean it's a smart idea to buy it on the dip right now?