A popular crypto strategist says that Ethereum (ETH) competitor Solana (SOL) is still a viable project despite getting hammered by nearly 96% from its all-time highs.
In a new video update, the host of InvestAnswers tells his 444,000 YouTube subscribers that bustling development activity on Solana is a sign that its fundamentals are still strong, regardless of the current price of SOL.
[adinserter block="1"]The analyst says Solana’s ecosystem is still outrunning many other top cryptocurrencies despite being one of the hardest hit projects by the collapse of crypto exchange FTX.
“Here we are. [Solana] is still ticking. ‘Click clock, every block,’ whatever they say. [SOL] is still out there. People are still developing.
It’s not dead. It got a black eye, a broken ankle from all the exposure to FTX and the scammers associated with that but going by the data, [it] looks like it has a very good chance of surviving, especially when you benchmark it against all the other cryptos out there that literally aren’t very active today.”
The analyst says that he views crypto largely as Darwinian in nature, or that the “fittest” digital assets with the best technology and best leaders will survive.
“Remember everybody, crypto is Darwinian. The question is, ‘Who will survive?’ The fittest always survive, and the fittest [are the ones with] lower fees, highest TPS [transactions per second], most decentralized, best leadership, etc.”
Solana is changing hands for $13.40 at time of writing, down 6.63% in the last 24 hours.
I
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/tykcartoon/WhiteBarbie
