Will Solana Ever Touch It Previous ATM?

in #crypto10 months ago

It appears like there has been some development on the blockchain, or maybe people are just weary of calling Solana out because they are used to the blockchain shutdown tragedy. Regardless, Solana hasn't made the news for what it is best known for, which is having a blockchain shut down. When SBF, the former CEO of FTX, publicly endorsed Solana because he saw potential in the coin, it was thought that Solana would kill Ethereum. Can we argue that he is a contributing factor to the coin's severe decline? But in all seriousness, the coin has made a remarkable recovery this year, falling to a low of $7.91 and then surging to its current price of $26.39

Screenshot_20230714_231418_Bybit.jpg

In order to understand why it would not be a good idea to buy coins to hold during a bull market, let's do some arithmetic on the Solana price decrease and the possible loss from the all-time high. My calculations show that Solana has lost 90% of its value from its peak price to the current price, which is a significant loss for anyone that bought at the peak. While some believe Solana will never again hit its all-time high price of $260.92, others believe there is still a chance that it will do so and perhaps even go higher. The fact that Solana's pricing has decreased does not necessarily imply that the chain's operations have as well.

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