Is it advisable to invest on Solana?

[Chriskelani]

Hello buddies, I am considering buying Solana coins and holding for a very long time. I want to know if this is a good idea before forging ahead to buy it.

Thanks for your responses.

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[Grim_Fandango]

Hello buddies, I am considering buying Solana coins and holding for a very long time. I want to know if this is a good idea before forging ahead to buy it.

Thanks for your responses.

I dont think that its a good idea to buy Solana and hold it for a very long time. Some short flip maybe if you are good at trading, but definitely not for long term.  The only coin worth holding for many years is Bitcoin as everything else is a big gamble.

[paid2]

Hello buddies, I am considering buying Solana coins and holding for a very long time. I want to know if this is a good idea before forging ahead to buy it.

Thanks for your responses.

The forum has an altcoins section where you will find people to answer your topic.
https://bitcointalk.org/index.php?board=67.0

Here the results with the word Solana :
https://ninjastic.space/search?title=%20solana

As we can see in these results, your previous post about it was already deleted my mods.
Could be better to post it where it belongs

[touseefahmad1999]

Hello buddies, I am considering buying Solana coins and holding for a very long time. I want to know if this is a good idea before forging ahead to buy it.

Thanks for your responses.

I dont think that its a good idea to buy Solana and hold it for a very long time. Some short flip maybe if you are good at trading, but definitely not for long term.  The only coin worth holding for many years is Bitcoin as everything else is a big gamble.

It's true that there are risks associated with investing in any cryptocurrency, including Solana, and that investors should carefully evaluate their risk tolerance and investment goals before making any investment decisions.

While it's true that Bitcoin is often considered a more established and relatively stable cryptocurrency, it's important to note that there are no guarantees in investing and the cryptocurrency market is known for its volatility.

Ultimately, the decision to invest in Solana (or any other cryptocurrency) and hold it for a long term should be based on your own research and analysis of the potential risks and rewards. It's always a good idea to seek professional financial advice before making any investment decisions

[Grasper]

It's a big Yes. Solana is a decentralized crypto that has been functioning for 6 years and has a bright future with the blockchain used to operating it. I hear many people daily placing it as one of their top 4 crypto to buy for long term holding. I have some SOL myself. The market cap of roughly $9 billion dollars as of today is little compared to many cryptos. This strike my instinct that it has so many vacuum still left to be filled up. Reaching $250 in the near future can not be a too difficult achievement.

[fzkto]

Hello buddies, I am considering buying Solana coins and holding for a very long time. I want to know if this is a good idea before forging ahead to buy it.

Thanks for your responses.

If you're not going all-in, buying solana could be a really good investment, but chances are it's not. In any case the project has already proved that the possibility of a scam is out of the question after the FTX crash. It is true that there are new prpjects now, which may replace solana. You have to realize that investing in altcoins is like a lottery, but it seems to me that solana is not the worst choice.

[Yogee]

Can you be more specific on the "very long time" since that sounds vague and its interpretation varies - some people consider one year as long already. I personally don't think it would reach its previous ATH at $250 even during the anticipated bullrun after bitcoin halving but it could still be carried. Maybe that could be your target holding period. Buy now and flip it next year.

[Husires]

Solana was a hot topic in the past but soon a lot of projects moved from it due to it being too centralized> suffering several breakthroughs and some failures.
the competitors have become good, for example, Polygon provides the same features with fees close to zero.
These reasons are sufficient to reflect negatively on price therefore, I do not advise you to invest in it.

[dbshck]

We can't tell you if it's going to be a good decision, so you need to have your own conviction. What makes you want to buy and hold it for long term?

To provide some perspective, I can share my personal views on Solana. I'm a fan of the chain and use it regularly, particularly for NFT-DeFi applications. Right now I enjoyed lending SOL against NFTs on platforms like sharky.fi and FFF's Citrus to make some passive investments. While its native DeFi space may not be as big as it was during the FTX era (guess all that TVL come from Alameda ), the NFT ecosystem remains active and thriving. Solana's high TPS and low fees are key unique points that differentiate it from other chains like Ethereum and its L2 solutions. If the dev and foundation continue to improve the chain (no more downtime) and step up their BD/marketing game, it could potentially work well for Solana's long-term prospects.

[fvb]

In my opinion, this is a personal matter for everyone. Because everyone has their own strategy. Of course there will be different opinions. In my humble opinion, this can be successful in the medium term. Personally, I did just that, that is, I keep a small amount for a long time. And in the long run, I think that there are more suitable coins and they are known to everyone

[siniminomorocomunisakito]

Buying Solana (SOL) and keeping it for the long term can be a good investment strategy if you have confidence in the potential of the project and its ability to solve real-world problems. SOL is a cryptocurrency that aims to provide a fast, secure, and scalable blockchain infrastructure that can support a wide range of decentralized applications and I guess this too Keep in mind that the crypto market is very volatile, and SOL prices can fluctuate significantly in a short period of time. So it is important to have a long term investment horizon and a strong risk management strategy.

[electronicash]

the token is still rising up though we have learned that this is only pumped by FTX. i thought SOL was over after the FTX scam but it's still recovering.

the bottom price i think was close to $10, which could have doubled your money if you invested while it was happening. i will still say avoid investing in this SOLANA project knowing that FTX/Alameda is associated with this project.

[NdaMk]

the token is still rising up though we have learned that this is only pumped by FTX. i thought SOL was over after the FTX scam but it's still recovering.

the bottom price i think was close to $10, which could have doubled your money if you invested while it was happening. i will still say avoid investing in this SOLANA project knowing that FTX/Alameda is associated with this project.

The coin continues to grow as bitcoin increases and has found his way into the top 10 Alticoins list but just like you said it will be huge gamble to invest on it considering that FTX wants all there coins back. There’s the Ren token that is currently in crisis because FTX also heavily invested into it. So it is best to keep off Solana for now or just gamble on.

[Questat]

Hello buddies, I am considering buying Solana coins and holding for a very long time. I want to know if this is a good idea before forging ahead to buy it.

Thanks for your responses.

Well, the performance of this project is quite convincing but we're not sure how it performs in the next few years especially when your intention is to hold them long-term. I may say it was one of the lists for many investors but holding them should also depend on how it performs. Unlike when choosing ETH or Bitcoin, you can really have peace of mind holding them for many years but in this project and of these several altcoins, it was hard to assume that they will turn good just like what they have currently shown to us.

[TastyChillySauce00]

The only yourself can determine whether it's good or bad, since solana ATH was three digits and it's time if it's now still two digits and the chance to go up is quite high at this moment. I would not be surprised to see that if solana will able to go back again to the three digits if bullish trend will come again soon. Solana is as good as major coins in the market. It's also having a very big ecosystem at this moment too. There's no doubt that solana will be reaching another ath soon.

People are still actively using it. It has hundreds of thousands of users at this time. Buy when it's still low sell when it's high.

[Fatunad]

Hello buddies, I am considering buying Solana coins and holding for a very long time. I want to know if this is a good idea before forging ahead to buy it.

Thanks for your responses.

Here's some nice news about SOL.
Solana on-chain and derivatives data highlights the limitations of SOL’s potential price breakout
Source: https://cointelegraph.com/news/solana-on-chain-and-derivatives-data-highlight-the-limitations-of-sol-s-potential-price-breakout

I dont have any doubts when it comes to Solanas potential which i could say that it is really that something worth to be holding on.
This is why if you do make this coin part of your port then go ahead.

[GreatArkansas]

the token is still rising up though we have learned that this is only pumped by FTX. i thought SOL was over after the FTX scam but it's still recovering.
(....)

You got a point here, after what happened to FTX Exchange, I started to sell my Solana for other altcoins like layer 2 tokens.
And add also their network outage, because it was not the only 1 time that happened, it already happens multiple times.
Yes, the transaction fees on Solana are extremely cheap and fast, I tried the Solana network for quite some time especially participating in their DeFi platforms.

[poodle63]

It's good decision. People are always putting FTX as main concern while FTX was only owning some tokens which already liquidated. Solana is coming up again. It's the time to buy it at the cheap price. Let those who scared about FTX to avoid this project. The fact that if solana is still included in the top 100 projects. This project can rise up again as long as there will be another good reason like bullish trend. The price already pumped from the bottom.

It's good for longterm.

[TravelMug]

Hello buddies, I am considering buying Solana coins and holding for a very long time. I want to know if this is a good idea before forging ahead to buy it.

Thanks for your responses.

It's really hard to give financial advises here.

If there is one advise I can share, it's that you have to DYOR (Do your own research) about the project that you want to invest. Maybe someone will advise you to put huge amount of money in Solana because they are a holder of it. Or someone will sway you against this project because they have other coins in their portfolio. So the best thing to the OP and for those others as well, it's your money that you are going to gamble in the market, so just make sure you invest it wisely on the project that you have studied and look, just saying.

[TheUltraElite]

Tough to say whether it is a good investment or not. There are users here are supporting the project and they have their own views on its future. While Bitcoin maximalists have their own narrow but safe view.

It would not hurt to pick up a stash of Solana for future if you have cash at hand to spare following regular buy low rules. Nobody believed etherum when it first came up but look at its price now. Since Solana has been here for long, you should give it a try but only after you have enough BTC at hand.