Getting to know Solana: The journey from ATH to ATL and its advantages and disadvantages
Solana is one of the blockchain projects that is increasingly gaining attention in the crypto community. In this article, we will review Solana's price journey from ATH to ATL, while explaining some of its advantages and disadvantages.
### Solana in Flashback
Solana (SOL) is a blockchain project that aims to provide fast, secure, and cheap performance in running decentralized applications (dApps) and smart contracts. Launched in 2020, Solana has experienced tremendous growth in a relatively short time.
ATH (All-Time High) Solana: In September 2021, SOL reached an all-time high of around $213, making it one of the best in price growth of the year.
Solana's ATL (All-Time Low): Before its peak, the initial price of SOL was around $0.22 when it launched in March 2020. This was an all-time low.
### Advantages of Solana
1. Scalability and Speed: Solana boasts extremely fast transaction performance and the ability to handle thousands of transactions per second (TPS). This makes it suitable for dApps and data-heavy projects.
2. Low Fees: Low transaction fees are an important advantage of Solana. Users can send and receive assets at much lower fees than other blockchain networks.
3. Strong Infrastructure: The Solana ecosystem has grown rapidly, with DeFi projects, NFTs, and dApps thriving. Solana Labs also has strong resources and support.
### Lack of Solana
1. Small Network: Despite rapid growth, Solana is still smaller than large blockchains like Ethereum. This could impact liquidity and accessibility.
2. Security Uncertainty: Solana has faced network incidents that resulted in downturns, highlighting its vulnerability to attacks. However, the development team has worked hard to resolve this issue.
3. Intense Competition: The blockchain market is highly competitive, with many projects vying for attention. Solana must continue to innovate to stay relevant.
FTX unstakes 3.96 million $SOL worth $160 million 2 days ago.
On this day FTX transferred 750K Solana worth $30M to Binance and Kraken.
Solana is a project that has caught the attention of many people in the crypto industry. With tremendous growth and rapid performance, Solana has become a prominent player in the blockchain ecosystem. However, like all crypto assets, Solana has its own risks. It is always important to do research and understand an asset before investing.