I have some bucks to invest & I'm not sure. Don't wanna buy BTC as I already have some. For these savings, I am planning some altcoins to add in my portfolio.
Not sure yet if I want it for long term or short.
Suggestions are appreciated.
I think the SOLANA has bcecome a trending cryptocurrency recently following Bitcoin and Ethereum. The reason behind it is continuous technological advancement of its network It has demonstrated outstanding perform since mid of 2023 when its price dropped below $10 and since then it its price is rising non-stop. Currently it is trading above $150 and there are rumors that SEC in USA is likely to approve its ETF. If it happens, it could potentially surpass its previous all time high(ATH) of around $250.
You’ve made some compelling points about Solana, especially regarding its recent performance and technological advancements. Its recovery from below $10 to over $150 is remarkable, and the potential ETF approval could be significant.
However, it’s also important to consider the risks. For example, in late 2022, Solana faced a major setback due to its close ties with FTX, causing its price to drop over 95% from its ATH. Additionally, despite the recent gains, Solana’s network has faced multiple outages, raising concerns about its long-term reliability.
While the potential is there, the market can be unpredictable, so it’s wise to stay informed and cautious. Thanks for bringing this up—definitely food for thought!