SOL perfectly embodies the strategy of buying after a fall in price. Solana recovered very quickly with a 30% increase and a price of over $ 200.
A famous investor repeated it very recently, before the recovery of Bitcoin and altcoins. The market was going through a dreary period. Trading activity was weak and prices were struggling to recover.
The expert then encouraged investors to acquire crypto-assets at low prices and take advantage of this opportunity. Falls can indeed offer opportunities. The plunge at the start of the week is one for a number of cryptocurrencies.
From 150 to 207 dollars for the SOL
This “buy the dip” strategy is ideally suited to Solana’s SOL. The price of the token has been recording record performances for several weeks. This was not lost on institutional investors.
A few days before the fall of nearly 8,000 dollars in BTC, Solana was on a trajectory taking it towards 200 dollars. After this massive sell-off episode, which took the entire cryptocurrency market with it, SOL went back down to around $ 150.
Some investors may have seen this as the precipitous end of the bull run and the altseason. This is not the case for Solana. On the contrary, this substantial drop represented an opportunity to buy a token that promises to reach a high level of valuation.
After this low of 150 dollars, the SOL therefore returned to double-digit growth rates. The SOL course shows up on September 9 for around $ 207 on CoinMarketCap. He thus pockets 30% increase in 24 hours.
NFT and futures on Solana
Over 7 days, Solana also ranks among the best performing tokens in the crypto market with a surge of just over 78%. The project also takes the opportunity to climb further in the hierarchy.
It is ahead of XRP by capturing the 6e up with a capitalization of over $ 60 billion. And the SOL is not the only asset to recover from this sell-off episode. Bitcoin is in the consolidation phase.
Among the top 20 crypto assets, all are now growing, by one or two digits. SOL is the most dynamic of these 20 values. ALGO, 17e of the ranking, is in 2e position with + 23% over 24 hours.
Solana’s growth levers are not called into question. The boom in NFTs on the blockchain is arguably its primary driver. FTX has positioned itself in this niche with a marketplace on Solana.
Other financial instruments are also landing on the blockchain. The derivatives platform Delta Exchange announced yesterday the launch of futures trading for Solana (SOL) and Cardano (ADA).
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