When picking a crypto asset to invest in, it is advisable to look for the coins with a large market capitalization that takes first positions of the crypto ranking. Of course, the most popular BTC and ETH are the market leaders, and these coins should definitely be in your investment portfolio. But let’s talk about a less popular but pretty promising crypto asset – SOL and see where to buy it in 2023.
What is Solana?
SOL ranks 14 on Coinmarketcap with a market capitalization of over $5 billion. As of December 15, 2022, the SOL price is $14.12.
The Solana network was created as a space for dApps developers to build their products and smart contracts. Over time, blockchain games, metaverses, and other projects started to be launched based on the Solana blockchain.
Some time ago, the network was about to surpass the Ethereum blockchain in terms of the following factors:
- Solana is capable of performing 65,000 transactions a second;
- The network charges a minimum fee of $0.00025 per transaction;
- Solana runs on the Proof-of-Stake mechanism of reaching consensus within the network.
The platform is very promising, and it has already shown great results having a great number of applications and products built on it. Of course, against the backdrop of the overall crypto market drop, the SOL crypto price has significantly reduced over the last year. Looking at the year’s SOL price chart, we can see that last December, it reached the mark of $197 for one coin. Today, the price is $14.12.
Where To Buy SOL?
Regardless of the Solana price decline, we should not be surprised about that because when the market lives through a bear trend, all crypto coils lose value, and SOL is no exception. During the next bull trend, the asset has all the chances to boost and reach the moon, so now is the right time to buy some SOL coins and hold them. For that purpose, you may use any large crypto platform with positive reviews and a good reputation, such as the WhiteBIT exchange.
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