And this is very unfortunate, because in the beginning, there are a lot of promise from this project and even hit all time high in the bull run. Unfortunately, after that and just like the rest of altcoins, it went down. But it's just the bear market so everyone is going to decline right? yeah, but there were issues like the hacks and it's network security. Now, it's name was also in the middle of the Alameda Research/FTX controversy that I will say like the majority of most experience members here, stay away from Solana for now.
The price of the coin rose not because the project became so popular, but because it was a financial manipulation.
All this is described in an old book: Reminiscences of a Stock Operator by Edwin Lefèvre. I advise you to read.
When most of the coins are with investors, they need to buy back a small fraction of the remaining coins on the market, then send the price to the moon and distribute their coins to hamsters with a markup of 10,000x