Why I Started To Buy Solana (SOL) Again

By Cryptofab | Cointune | 29 Apr 2023

As a crypto enthusiast, I've been closely following the ups and downs of various digital assets in the market. One crypto that has recently caught my attention again is Solana (SOL). Despite the recent crash of FTX, which affected its total value locked (TVL), SOL still has great potential in my opinion. Here's why I've started buying SOL again.

Firstly, there are rumors circulating that FTX may be reopening its exchange soon. This is great news for SOL as it is the native blockchain for FTX. If the exchange does reopen, it will boost the trading volume for SOL significantly. This could result in a price increase for the cryptocurrency, making it a potentially lucrative investment.

Secondly, SOL has been in the news recently for other reasons too. The Solana team recently announced the launch of a new Android phone which runs on Solana blockchain. This move marks a significant step forward for the adoption of SOL as a mainstream cryptocurrency. It shows that the Solana team is committed to expanding the use cases for SOL beyond just trading.

Furthermore, the Solana team has also released a ChatGPT plugin, which is opening up a wide range of possibilities... The ease of use that this provides could further boost the adoption of SOL.

Finally, SOL still offers a low-cost alternative to Ethereum for DeFi to retail customers searching for low fees. This is a significant advantage that SOL has over other cryptocurrencies in the market. With the ongoing gas fee issues on the Ethereum network, SOL's low transaction fees make it an attractive option for those looking to save on fees.

Moreover, SOL has been experiencing good trading volumes recently, indicating a strong demand for the cryptocurrency. This is a positive sign for SOL's future price movements.

In conclusion, despite the recent crash of FTX affecting SOL's TVL, there are still plenty of reasons to believe in SOL's potential. From the rumors of FTX reopening to the new Android phone launch and ChatGPT plugin, SOL is making moves towards mainstream adoption. Additionally, SOL's low transaction fees and good trading volumes make it an attractive option for those looking to invest in a crypto. I've personally started buying SOL again, and I believe it has a bright future ahead.

Disclaimer: this article does not contain any financial advice. The information is provided for general informational and educational purposes only.

For more insights on crypto, follow me on Medium or Twitter.

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