Why is Solana still among the top 10 coins in market cap?

[Abiky]

I can't understand why Solana is still at the top, when it's been a victim of constant network outages and hacks. For a Blockchain network which aims to provide unparalleled processing times and low costs, this instability makes everyone look elsewhere. But for some reason, SOL hasn't gone all the way down to zero. Maybe whales want to keep Solana afloat for their own benefit? Whatever the case may be, there isn't any indication Solana will disappear anytime soon. The project's developers still haven't solved the outage issue, so why would you use Solana when there are far better blockchain networks which focus on security and reliability (eg: Cardano and Ethereum)?

What are your thoughts? Your input will be greatly appreciated. Thanks.

[cryptoaddictchie]

Cause top 10 pretty follows which marketcap is on the lead. Well solana still high on marketcap so thats why they are still on top. If someone overtake their cap then some will advance. Its not about the tech when it comes to ranking on cmc, coingecko or coins out there. Its the quantity of volume and marketcap they are basing the ranking whether the token or coin is worthless one.

In terms of security, clearly the one you mentioned are good ones and more dominant than solana and probably other chains but its not like that.

(example)
Even shiba can surpass btc on ranking if he surpass the marketcap of btc even their project is just a meme and has no vital utility.

[ahmia39]

I think that most of the increase in crypto prices comes in the midst of a wider surge in the equity market, because the US market remains closed for national holidays in the US. This opportunity was apparently used by Whales investors who decided to buy up crypto or buy the Dip Assets when the price was down.

[hd49728]

It will lose marketcap by price fall in bear market and coming months.

I don't believe Solana will be exceptional strong coin that can move oppositely to general trend of market. Especially it has 200x growth in the last bull run. It will be corrected to $10 or $15 that can be its bottom range. Honestly I think it can fall under $10 as well.

After hype in bull run and lot of promise about Solana blockchain's capacity, we already saw many flaws of the chain. It means Solana is vulnerable in bear market. If network has issues, bear market will amplify its flaws and has big negative impact on price.

[Iyeman]

The case that happened with solana was different compared with terra.

Solana faces outages but this didn't mean the system was broken like terra luna which was printing multi billions of tokens and these tokens dumped to the market.

In this case, solana was also backed by alameda and SBF. I do remember if SBF was also a die hard for solana blockchain. That guy is always hyping anything related to the solana. This is also making people still hold it although so many problems have been faced by solana.

[jrrsparkles]

Still the holders are believing that it can give them good returns in the future so they are keeping it in the zone until the goal reaches. Nit every coin is sitting at the top of coinmarketcap value means is best meanwhile anycoin faced technical issues or security threat is worse everything depends on the utility of the project.

[ANSEL_2.0]

Solana is a very attractive blockchain that's why developers still trust the project even after all the messed up issues affecting the project, so yes solana deserve the top 10 rank and the project will get better in future.

[MAAManda]

The reason is very simple, the community still has faith in Solana. Just like $LUNA or $LUNC, why are tokens still traded? Of course because there are still many people who believe in this token, even Terra Labs is experiencing more dire problems than the problems faced by Solana recently. We don't know for sure if there really is a whale involved who wants to keep Solana on top just for their benefit. But for me, Solana is dead, very unsuitable as a place to invest because it is very risky, we don't know what will happen in the future on their network, whether there will be a bigger problem than the hacking that happened.

[piebeyb]

their big investors who still hold large amounts of solana certainly don't want to make solana like LUNA and it's already painful enough for many people to make huge losses to the crypto community, maybe that's why solana is still holding on because big holders still have the confidence to keep putting money they were there and kept the price of solana from falling, honestly I don't really like solana because I think it makes development there much more complicated than eth and others which is much easier, I'm not a solana lover

[Bitstar_coin]

Beside btc, all atls are still a work in progress in my opinion, even the great eth is not without issues relating to network, sol is still among the top 10 because the market cap keeps it there if for any reason it drops below then some other alts will definitely take the spot.
I don't know why you would expect sol to go all the way down to zero simply because of these issues that can be fixed in due time, i think we judge projects too harsh in the crytpo space, maybe because we expect too much within a short period of time. 

[Abiky]

Beside btc, all atls are still a work in progress in my opinion, even the great eth is not without issues relating to network, sol is still among the top 10 because the market cap keeps it there if for any reason it drops below then some other alts will definitely take the spot.
I don't know why you would expect sol to go all the way down to zero simply because of these issues that can be fixed in due time, i think we judge projects too harsh in the crytpo space, maybe because we expect too much within a short period of time. 

Even though Solana's been around with us for a short period of time, there hasn't been any indication that developers are aiming to fix the Blockchain's outages. Instead, the project's been focusing on a new Solana-powered smartphone to help attract investors into it. If the team doesn't care about what matters most (security and reliability), then why bother investing into SOL in the first place? I think the only reason why the coin is still among the top ranks in market cap it's because whales are keeping it that way. The high-performance and cost-efficiency of the Solana blockchain makes it perfect for day trading and other sorts of things. It's like a profit machine for whales, but a nightmare for the end user.

As I've said before, there are far better platforms which focus on security/reliability above all else. Let's see how far SOL will go as the competition becomes fierce each day. Just my thoughts

[icalical]

Despite Solana lacks of security, I believe developer like how easy and seamless it is to make dApp on Solana, and its also very cheap compared to ETH and BSC. And there are also some Solana based dApp that are quite successful like Brave Browser and Raydium.

[hugeblack]

The brief answer is the social media and the pumping of money in this project. This money may not come directly from investors, but from the company or agreements with platforms.

Generally, if you have enough money, it is easy to put any currency among top 10 coins in market cap, but it is time that will determine to any extent you are ready to continue to pump that currency in the sense that I expect to decrease from the top ten in a year if they do not provide anything unique.

[tvplus006]

After so many network failures that occurred in 2022, it is difficult to believe that solana can become an "ethereum killer", as it was previously declared. Nevertheless, it is impossible to deny the fact that the transaction speed and low fees on the network exceed the Ethereum indicators.

[desfira]

maybe there are some cryptos that have increased quite high, even though in the midst of the recent bear market, if we are strong enough to hold on, there will definitely be a time when the high increase occurs

[DeathAngel]

Lots of people probably still have belief that it can be the ETH killer. I really used to believe in it but the network interruptions are just not acceptable. I really would not like to have a significant % of my portfolio as SOL.

[Ziskinberg]

Well, it is just like asking why Bitcoin is on the top among cryptocurrencies - literally, it was the demand and investors putting in there. However, I have no regrets nor I was mad seeing it as one of the top 10 coins in the CMC as it obviously has the market potential. In fact, it was also surprising why Doge is still in its position despite the negative talks about this. This is actually how the market works, is not all about what project we don't like or like,d and ranked them accordingly based on our decision.

[Taskford]

Eventhough it goes with several hacking issue but still many use the solana network by using it on transactions which usually happen upon buying digital goods like NFT and other tokens created on this network. We see many devs use ETH network for past years and now they are shifting to SOL so I guess this hype create demands and on this people look at it as a good coin to hold.

[Juwel580]

Solona always top pull because Solona is a strawbal toke or a network it is very good quality and good quality network many investors invest here and there is no chance of mother and here profit is more with launch because here stop out ok  And the network is very good everyone feels comfortable investing here and also the market value is very good so it is always top 10

[CryptoYar]

I can't understand why Solana is still at the top, when it's been a victim of constant network outages and hacks.

As long as it has the support of the VCs, it is not going to lose its position.

the project's developers still haven't solved the outage issue, so why would you use Solana when there are far better blockchain networks which focus on security and reliability (eg: Cardano and Ethereum)?

Solan is the best in terms of transaction speed and fee. The only issue is that the security of their blockchain is very poor, if the team fix it then i believe it will beat cardano in market cap