Solana (SOL) at a risk of complete wipeout?

by | Sep 10, 2022 | Market, Market News, News, Solana | 0 comments

The market is unpredictable at the moment and like a rollercoaster ride with its extreme ups and downs. While we see many projects rising, some significant coins such as Ethereum and Bitcoin are still facing downfall. Despite the fact that Bitcoin has a good hold on its price and position as the top digital currency in the market, its constantly decreasing price has shaken the whole market and even its investors seems to be in huge trouble. BTC’s terrible graph encouraged the crypto fans and investors to look towards altcoins.

While Ethereum, Solana, Cardano along with many prominent altcoins fell because of the declining worth of BTC, these digital currencies appear to be recuperating at a quick speed. Despite being one of the quickest growing crypto currencies, the Solana cost was affected quite badly at the time when the crypto market was bleeding.

Despite the fact that it is one of the biggest and fastest growing crypto currencies, the crypto confronted a few blackouts within the time span of recent months. Solana based applications were quickly taken offline due to these blackouts. The several blackouts negatively affected the quality of the whole network. The last blackout went on for around four and a half hours, which ultimately made the investors to think that Solana might be a powerful asset yet it doesn’t guarantee a trouble-free trading experience. Some crypto specialists have likewise expressed their thoughts that investments in Solana may be at serious risk in the event that Solana doesn’t focus on repairing the complications going on in its network.

While many are saying that Solana is at a risk of a complete wipeout, at the same time, according to the recent charts of the SOL price, it can be seen that the recovery of this digital currency is going quite smooth. The ups and downs will keep on happening as we all know how the market is going right now. On Monday 5th September, Solana cost went under extreme tension as coin demand facilitated. The SOL token slipped to a low of $31.25, which was around 35% underneath the highest level in August of this year. Its market cap has slipped to a low of more than 11 billion Dollars, making it the ninth greatest digital currency on the planet.

However, after all these things, Solana is being seen as one of the coins that will truly do well this week assuming that the bulls will take control over the market. The Solana coin is at present (06-09-2022) exchanging at $32.17 in the wake of making some recovery today. The Solana value forecast is that it could end the week above $40 assuming the market stays bullish.

Please follow and like us:
Pin Share
Please enter CoinGecko Free Api Key to get this plugin works.