Investments

If You Invested $100 in Solana, Here is How A lot You’d Have Now

So much can occur in a single 12 months. The features in cryptocurrencies are the proper instance of that. The world’s first cryptocurrency Bitcoin soared previous $60,000. And plenty of smaller gamers skyrocketed, turning pocket change right into a fortune.

One in every of this 12 months’s most-talked-about names has been Solana (CRYPTO:SOL). The younger cryptocurrency has fairly stable causes for garnering such consideration. It is a blockchain that is climbing the ranks in non-fungible token (NFT) gross sales and is thought for its excessive transaction velocity.

Early buyers in Solana are in all probability celebrating proper now. Why? As a result of an funding initially of the 12 months shortly introduced main returns. Let’s examine how a lot you’ll have at this time for those who’d invested in Solana initially of January.

Two people smile as they count money at a table.

Picture supply: Getty Pictures.

Spectacular features

In early January, Solana traded for $1.59. Should you invested $100 then, you’ll have bought 63 SOL, the native token of Solana. At the moment, Solana is buying and selling at about $187. That is a acquire of greater than 11,000%. And which means your funding now could be value $11,781.

Solana really peaked final month at about $257. Should you’d bought then, you’ll have made about $16,000. Fairly spectacular, proper?

Should you’re nonetheless holding onto your Solana funding — or contemplating shopping for now — chances are you’ll be questioning if there’s a lot potential for additional features. After all, there’s a whole lot of competitors within the cryptocurrency house. There are the 2 leaders — Bitcoin and Ethereum. And there are millions of others shortly advancing in relation to customers, buyers, and market worth.

Proper now, Solana is ranked No. 5, in line with market worth. So it is undoubtedly made its approach into the territory of the elite within the crypto world. Can it keep or transfer larger? The clues we’ve to date are constructive.

First, there’s the thought of excessive transaction speeds at a low price. Proper now, Solana can course of greater than 2,000 transactions per second at a median price of $0.00025 per transaction. However Solana’s structure means it will definitely can accommodate greater than 700,000 transactions per second.

The blockchain’s technique of validating transactions is likely one of the secrets and techniques of this success. Solana makes use of the proof-of-history approach. This technique marks blocks of information with a timestamp of types — the result’s fast and seamless validation.

An NFT chief

Second, Solana’s progressed an awesome deal within the space of NFTs. These are certificates of possession of every thing from sports-fan tokens to art work. Solana ranks No. 3 by NFT gross sales quantity over the previous seven days, in line with CryptoSlam.

Solana’s presence is powerful in decentralized purposes (dApps). At the moment, greater than 400 tasks exist on the blockchain. They span a wide range of areas together with gaming and finance. In truth, decentralized finance has the largest share of tasks with a complete of 167.

There’s quite a bit taking place on the Solana blockchain proper now. And technically, Solana nonetheless is within the beta stage. Meaning there’s in all probability much more forward for Solana, too.

It is necessary to keep in mind that all cryptocurrencies stay dangerous as a result of we do not but have a transparent image of the position they’re going to play just a few years down the highway. And Solana, as a brand new crypto, faces potential challenges because it expands. However the progress it has made to date is motive to be optimistic about its future.

This text represents the opinion of the author, who could disagree with the “official” suggestion place of a Motley Idiot premium advisory service. We’re motley! Questioning an investing thesis — even certainly one of our personal — helps us all suppose critically about investing and make selections that assist us develop into smarter, happier, and richer.

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