Neil Patel, one of the analysts of the US-based investment company Motley Fool, made striking statements about Solana (SOL), which has not fallen off the agenda due to the FTX crisis.
Solana: Full of Faith!
The cryptocurrency market has lost more than $1 trillion in value since the beginning of 2022. The S&P 500 is down 21% this year. Due to the Federal Reserve’s policy of aggressively raising interest rates in order to combat inflation, the entire cryptocurrency market, especially Bitcoin (BTC), has taken a heavy hit. While the FTX crisis pulled Bitcoin to the 16.000 dollar levels, Solana (SOL), which is 95 percent away from its peak, was the crypto currency most affected by the current crisis with the FTT. The bankruptcy of FTX also caused Solana to lose value significantly. As a result, the LEFT fell below $ 15. Behind this drastic correction are the SOL coin sales made by FTX and Alameda. According to the analyst, when we examine bear markets, investors who took the bottom often turned out to be profitable. In such an environment, Solana also looks attractive at the moment. This year, the SOL price has fallen to $ 14 with an incredible decrease of 86%. Solana was launched in April 2020 by two former Qualcomm employees Anatoly Yakovenko and Greg Fitzgerald, who wanted to revolutionize factors such as speed and cost. Solana was created with a proof-of-stake consensus mechanism that gives token holders the ability to lock in their assets to verify new transactions and secure the network.
There is such an ecosystem as the current system of Ethereum after the completion of The Merge. Therefore, the LEFT has been described as the Ethereum killer from the very beginning. According to the expert, one of the most important factors that makes Solana special is the fact that she uses the date proof system. Solana’s network can handle an incredible 50,000 transactions per second. This is 3 in Bitcoin and 13 in Ethereum. Surprisingly, Solana is almost at the level of Visa, capable of processing 65,000 transactions per second. Since its launch, Solana has delivered a remarkable return of more than 14,500%, making it one of the best financial assets to invest in during this time. It is currently the 15th most valuable in the world with a market capitalization of $5 billion. crypto is in the money position.
The Main Catalysts: There Are Concrete Reasons! Should He Take it from the Bottom?
Solana’s incredible speed, combined with low transaction fees, is a unique opportunity for the SOL pay industry. In February, Solana Pay was introduced. Solana Pay allows consumers to use their phone and a QR code to pay with merchants who receive instant payments and access to their funds. Since Solana Pay uses blockchain technology, it also offers other great features, such as loyalty programs with NFTs. At a recent conference called Breakpoint, Solana announced its product roadmap, which includes smartphones with built-in crypto wallets that connect directly to the Solana ecosystem. Customers can pre-order them early next year. In addition, there is a store October on the horizon that eliminates fees for decentralized applications.
The most exciting announcement recently was Solana’s partnership with the tech giant Alphabet, the parent of Google. Google Cloud will produce a validator for Solana’s network that can help process transactions. Google will start storing data from Solana, which will become easily accessible to developers. According to the analyst, when the bear market ends, the adoption rate in Solona will continue to increase. That’s why the LEFT is giving a good bottom-buying opportunity right now.