Is Solana a Worthy Investment in 2023?

Is Solana (NYSE:SOL) a good investment? This has been the question on many crypto investors’ minds since the price of the coin plunged to a record low of $13 in November, following the news of the FTX liquidity crisis. Since then, Solana has become an extreme value play in the crypto market and its recent surge in price has made it an attractive investment opportunity.

Currently, the fully diluted market capitalization of Solana is less than $30 billion, which makes it a good investment when compared to other public blockchain networks such as Ethereum, Binance, XRP, Cardano, Dogecoin, Polygon, and Solana.

When it comes to Solana’s performance in H2 2022, the coin has been performing quite well. The coin has seen a return of over 200% since it fell to its all-time low of $13. This means that those who invested in Solana back in November have seen a good return on their investment.

The coin is also backed by some of the biggest names in the crypto space, such as Digital Currency Group (DCG), which also owns crypto media outlet Coindesk, investment manager Grayscale, and crypto investment firm Galaxy Digital. This means that there is strong institutional interest in the coin, which makes it a good investment for those looking for long-term returns.

Furthermore, Solana’s network is highly scalable and is currently among the fastest networks in the crypto space. This means that it is well-positioned to handle the increasing demand for decentralized applications and smart contracts.

It is important to note, however, that investing in Solana is not without risk. As with any investment, it is important to do your own research and understand the risk before investing. This article does not contain investment advice or recommendations.