Quote from: FanEagle on Today at 05:41:35 AM

Quote from: djgtr on October 24, 2021, 01:49:30 AM

Solana (SOL) rallied 30% and almost touched the all-time high levels of $216 after breaking out above a pennant formation. SOL missed the ATH price by just $1, according to Binance.

Solana is expected to see some consolidation around the $200 mark. Should the support at $192 fail, Solana can explore lower levels ($177) before any new attempt to break the all-time high occurs. Expect significant volatility from Solana over the short term. For now solana is at the price of 198.80$ is it the best time to invest in Solana or not?

There have been lots of crypto currencies and projects that have been created in the community to overtake ethereum in the market. So, failing to its own peak level is highly expected and whenever these coins are created, we always see talks like this going round about them having what it takes to be the next biggest thing in the alternative cryptocurrency market.

The way certain coins/tokens moon in such a short amount of time, also reminds me of Chainlink in 2020. It quickly reached the Top 10, but now barely lies in the Top 20. Earlier this year there was Uniswap being the number one DEX and a Top 10 coin, but now only the second most popular and no longer in the Top 10. A lot of projects go up then down depending on the season as well as cycle it seems.

Quote from: FanEagle on Today at 05:41:35 AM

But at the end of all this, it usually ends with everyone forgetting about those projects and Ethereum continuing with its lead as the number one altcoin in the market. So, I can’t really give you an answer that Solana will be the next biggest project there is, it’s quite possible that Ethereum will maintain its position in the future. You can even take Bitcoin as an example, Bitcoin is main purpose has been about transaction.

This is very true, I've been thinking the same lately of all these competing layer 1 solutions trying to be "better than Ethereum". While many of them do have technological advantages, they still don't have as many devs or users to go with. Sometimes it reminds me of 2018 "ETH killers" hype, when Ethereum was struggling with price due to the ICOs selling off etc, even if it's a different market these days.