Solana dropped 85% from its ATH. Worth Buying now?
hive-167922·@alokkumar121·
0.000 HBDSolana dropped 85% from its ATH. Worth Buying now?
Solana blockchain network has got a good hype and attraction in the market after the STEPN project but now things are doing well it seems. Even their blockchain was halted and this is not a good sign for any proejct. What can we expect from any project that is facing a frequent blockchain halt and this affects the reliability by the investors in the project? Millions of users transact on the chain and even a minute of outage makes things difficult and if lasts more then its really a bad situation for the project as well as investors and users. I checked the charts for the SOL coin and this effect is clearly visible in the price of the coin. SOL coin price was almost $260 in Nov month last year and since then there has been a kind of continuous fall. If we look at the chart then we see that now its trading in the range of 40-45 USD so the current price is now down by over 80% and to be precise its 83%. It was almost $80 in March and there was a slight spike that push the price to be in the range of $140 but again it started falling and now in June its in the price range of $40-45 which is too low.  ##### SOL Marketcap- Its highest market cap was more than 44 billion USD and now its between the range of 12-15 billion USD. I am not an investor in Solana but this type of price decline situation is bad and I feel sad for the people who have trusted the project. We can not deny the fact that the market is in bearish mode and prices are low for almost every coin in the crypto space this is true but blockchain outage is something that I am not ok with.  I was planning to invest in SOL last month because of STEPN since this project had got a very good hype and people were able to earn very good money in the initial days and this also resulted in more awareness and attraction to Solana. Now I feel that it was the right decision for me to hold and then the market crashed so its the time when we need to see how SOLANA services this bear market. Coins like Ether, BIB, Litecoin, etc have survived so many crashes and they are still but it would be interesting to see how SOL does in this market scenario and this is the time when we see the true potential and community power for any particular coin. Solana calls itself the fastest blockchain as per their website but they are not stable it seems. I have never seen a BNB chain down or even the ethereum chain down because they have to be an alternative arrangement to avoid this situation. > Solana is the fastest blockchain in the world and the fastest#-growing ecosystem in crypto, with thousands of projects spanning DeFi, NFTs, Web3, and more. ** ** So I believe that investing heavily in the project is not a good idea however if we can take some risk then this can be a good time. We surely can't ignore the project as its 9th rank project as per the marketcap and there is a high possibility for this to come back. Obviously, its going to take a bit longer to reach back to its all-time high however if the goal is for the long term then it can be a good option to go however doing self-research is necessary before investing. **Thanks for reading** Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@alokkumar121/solana-dropped-85-from-its-ath-worth-buying-now)
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