BTC - Up 153% Is It Too Late to Buy Solana?
2023-07-25 07:19:00 ET
Solana (CRYPTO: SOL) is now up a head-spinning 153% for the year. That's nearly twice the performance of Bitcoin (CRYPTO: BTC) , which has been leading the recovery in the crypto market and is up 79% for the year. So just how much higher can Solana soar?
Certainly, there is reason to be optimistic. After all, even at a price of $25, Solana is trading nearly 50% below its 52-week high of $48. With that in mind, here are several factors to keep in mind if you are thinking about buying Solana.
Sometimes, you have to peek under the hood to see how everything is running. And, for Solana, that means checking out its underlying blockchain fundamentals. Across the board, these appear to be improving: Transaction volume is up, the number of unique Solana users is increasing, and the number of smart contracts being deployed across the blockchain is up. All of these suggest that future growth is sustainable.
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Up 153%, Is It Too Late to Buy Solana?