Yugocean
Valued Contributor
Solana was a hit in the market, and then it crashed; it's a tumultuous moment for Solana, as it's on the decline.
Many crypto experts dubbed Solana the "Ethereum killer" in 2021 because of its smart contract and minimal fees, but in 2022 it has suffered greatly, with the network experiencing regular failures that is called “durable nonce transaction”, as revealed by Solana Labs co-founder Anatoly Yakovenko.
SOL, the Solana blockchain's native cryptocurrency, was trading at $250 in 2021, and SOL investors profited handsomely from their investments, but it is now losing money. Even at $40, SOL is trying to stay afloat.
People may explain Solana's downfall as part of a larger market carnage, and while it isn't as bad as Terra, the truth is that Solana's YTD decrease in 2022 is double than bitcoin. However, SOL is still on top 10 rankings at coin market, which keep some hope for it.
Many crypto experts dubbed Solana the "Ethereum killer" in 2021 because of its smart contract and minimal fees, but in 2022 it has suffered greatly, with the network experiencing regular failures that is called “durable nonce transaction”, as revealed by Solana Labs co-founder Anatoly Yakovenko.
SOL, the Solana blockchain's native cryptocurrency, was trading at $250 in 2021, and SOL investors profited handsomely from their investments, but it is now losing money. Even at $40, SOL is trying to stay afloat.
People may explain Solana's downfall as part of a larger market carnage, and while it isn't as bad as Terra, the truth is that Solana's YTD decrease in 2022 is double than bitcoin. However, SOL is still on top 10 rankings at coin market, which keep some hope for it.