Is Solana Holding going to be profitable?

[bee]

because we have seen several projects(actually good standing coins that turns into scams? but Am not saying Sol is similar but we cannot prevent this
from happening if there is a movement from dev/team.

Scam cases often occur in security tokens, I don't know which project you are referring to, but let's say it's FTX. The price of this type of token reflects the development and performance of its issuer's service .
Solana is a utility coin where the price is reflected by the quality of the coin itself. Generally it is a type of decentralized coin that uses a consensus system (involving many parties) and has some kind of public repository of improvement proposals^[1] to make decisions on changes to the protocol. The larger the blockchain network grows, the more external development contributors take on the role. That's why there is very little chance of ending up in scam.

1. https://github.com/orgs/solana-foundation/projects/2/views/10

[yhiaali3]

While Solana is growing together with other coins since yesterday but My stand still goes and that is to be careful in trusting this coin for longer time
because we have seen several projects(actually good standing coins that turns into scams? but Am not saying Sol is similar but we cannot prevent this
from happening if there is a movement from dev/team.

Look at its price now going up above 160 dollars

https://coinmarketcap.com/currencies/solana/
 and a double digit green percent so there is a chance of staying that level at least this quarter.

Yes, of course, I am also in favor of being cautious, but I am not saying that Solana can turn into a failure or a scam.
 
Despite everything, the Solana network remains one of the strong networks that has achieved great growth and gained the trust of many users, so we should not underestimate it.

The rise in Solana's price indicates that it still enjoys great confidence and that mistakes can be realized and solutions can be found in the future.

[MrSpasybo]

For me, whoever becomes president later, hopefully he can restore or support the existence of crypto and restore peace, the beginning of the presidential inauguration will probably coincide with the Altcoin season.

Disappointing the community may not be but what I am worried about is that the 2023 Solana incident is very worrying and if it happens again there may be a buildup of supply in the market and a long wait to recover.

The crypto market period is 4 years and coincides with the US presidential term, so if we calculate the repeating cycle, we will have a bullrun again as soon as the election ends and we have a new US president!

During bullrun, investors tend to overlook issues and focus on the rampant price increases of tokens. Solana experienced multiple outages during the 2021 bull run, yet its price continued to surge, surpassing $250 and becoming one of the most successful tokens in the market. This trend could continue in the future, with the ecosystem's vibrancy potentially pushing the Solana blockchain to its limits and causing outages. However, as long as investor confidence and FOMO remain strong, SOL's price is likely to remain well-supported.

[Metha Wulandarin]

Yes, now Solana has started to bounce back, there has been an increase from the decline caused by Bitcoin and in my opinion Solana is already strong in holding prices where when Bitcoin fell from the price of $60k to $54k Solana experienced a decline of only about $15 in a period of one day.

That's a great observation! I will consider it rather impressive how Solana managed to stand the test of the Bitcoin price decline. From $60k to $54k, the bitcoin price decreased by about 10% while solana’s price merely declined by approximately $15, a very small percentage.

This could be an indicator that Solana is getting more adoption and tagging less behind Bitcoin price swings. Now, if Solana can sustain the current price or even go higher in the meantime that Bitcoin is oscillating, this may actually be favorable for the asset.

Besides, the low fees, fast transaction speed, and a relatively expanding number of DeFi projects makes Solana a potential contender for Ethereum. Given that there are new investors interested in the crypto market, Solana’s features and good performance could make it more popular and become one of the major blockchain platforms out there.

There is no harm in putting our trust and hope in Solana for the future of crypto and there is also no harm in putting the little money we have to join Solana instead of putting our money in obscure meme coins.
When Solana reached $160 yesterday I took profits, I bought it when the price was around $120 and that was a long time ago and I will buy it again when there is a downward movement in the price of Bitcoin.

[Hamza2424]

Hmm by the current timeline, I think if you are considering SOL to be non-worthy for the investment due to its higher market capital, maybe you are on the wrong stand, because if you consider a little long-term plan with SOL its a more reliable and rewarding comparing to any other chain, SOL's ecosystem is growing tremendously and making things more complicated for the ETH and ETH L2's.

TBH if we consider a little hope for the consistent growth of crypto market capital it won't take too long for SOL to dominate the 3rd position as BTC and ETH are dominating the 1st and 2nd positions for a long time.

[Dr.Bitcoin_Strange]

There is no harm in putting our trust and hope in Solana for the future of crypto and there is also no harm in putting the little money we have to join Solana instead of putting our money in obscure meme coins.
When Solana reached $160 yesterday I took profits, I bought it when the price was around $120 and that was a long time ago and I will buy it again when there is a downward movement in the price of Bitcoin.

Solana is indeed a pretty great project, and it has also proven to have a long develop team as well as thriving ecosystem, so putting one's trust in it could be quite understandable.
While I'm not really a fan of any coin that's not Bitcoin, I still feel it'll be a smart move for one to also consider diversifying one's portfolio by also investing in a mix of other established projects just like Solana and other projects that also have incredible potentials for growth. And yeah, taking profits when the price of the asset has reached a high point could actually be a pretty cool way to lock in gains and also rebalance your portfolio, but the most important thing is to first DYOR and be very sure and positive before putting your money into any investment.

[bounceback]

Keep increasing the Solana coins prince since drop under $130 after bitcoin crash and yesterday success reach highest price up to $172. I think Solana holder keep promising to earn much profitable and believing potential break above $200 in short term regarding their issues will apply for ETF Solana approval.
I can't imagine if get approval how much break out of Solana coins will be great competitor for BNB coins price or reach up to $1k in one day later.
I am holding around 20 Solana coins and expected for selling above $300 every single coins price, seems has chance for Solana get raise to most higher price if the ETF rumor will approve.

[JoyMarsha]

If Donald Trump wins the US presidential election, it will seek to many rise of crypto coins to flourish in the crypto market than when Biden keeps running the USA.

That being said, I don't the USA president is among the decision-makers of why Solana ETF is to be approved or not. Those in charge of it will go through the file summited for Solana ETF, and get it approved if necessary.

Nevertheless, Solana future is going to be bright in this coming bull run, she's showing good signs that it will skyrocket hugely, providing its investors with many profits. I am foreseeing a price above $1k by next year

[taufik123]

-snip-
Nevertheless, Solana future is going to be bright in this coming bull run, she's showing good signs that it will skyrocket hugely, providing its investors with many profits. I am foreseeing a price above $1k by next year

I also hope so, Solana's rise should be a tremendous increase when entering the next bull run or alt season market.

The current narrative is quite positive with the involvement of Donald Trump who is now successfully making crypto the main spotlight and Biden's elimination makes the negative narrative on crypto less.

Buying and holding from now on is a great choice to do or do DCA.

[JoyMarsha]

While Solana is growing together with other coins since yesterday but My stand still goes and that is to be careful in trusting this coin for longer time
because we have seen several projects(actually good standing coins that turns into scams? but Am not saying Sol is similar but we cannot prevent this
from happening if there is a movement from dev/team.

Look at its price now going up above 160 dollars

https://coinmarketcap.com/currencies/solana/
 and a double digit green percent so there is a chance of staying that level at least this quarter.

Instead of worrying about Solana's future, why don't you invest in them for short term since the future of altcoins can't be ascertained and altcoins are only good for short term?

One of the worst mistakes investors make is to think that a coin apart from bitcoin would remain the top best altcoins to invest in all the time, just because it showed a great price movement and coins are aligning on its blockchain, that makes it the perfect coin that can't be rugpulled.

[Dr.Bitcoin_Strange]

It can be emphasized that regular holding for solana investors is an expectation of high profits for the future. VanEck and 21Shares filed applications to launch the Solana ETF last week, and it is expected that approval could be easier if Donald Trump wins the next election and retaking the White House. The Biden administration's tough stance on cryptocurrency may not make its approval easy. Donald Trump's recent positive attitude towards crypto increases the likelihood of its approval.

https://www.coindesk.com/news-analysis/2024/06/28/solana-etf-applications-look-like-bets-on-trump-retaking-white-house-making-us-friendlier-to-crypto/

Holding Solana will be profitable and I believe the longer you hold the more profit you will make, Solana is among the best coins right now in the crypto industry and should be taken seriously, a lot of people believe Solana will not grow like Bitcoin but that should not be the board of contention our interest should be, if Solana will keep growing or will not and from all indications I believe it will keep growing bigger and better and holding unto it will be a good step.

Trump is a business man and he knows how to make investors support his political journey, he may win and decide not to support cryptocurrency anymore no one knows his heart, and that is why I will not put my hopes in him for now, however it will be a good thing if trump supports crypto.
We all know that government can't bring down cryptocurrency but there lack of support will reduce it's growth and that is why we all wish for government support in cryptocurrency.

There's a great future for Solana if trump wins the next presidential election and stand by his words and even if he loses or wins and didn't stand by his words in supporting cryptocurrency Solana will still grow.

[bitterguy28]

a lot of people believe Solana will not grow like Bitcoin

to be fair a lot of altcoins no matter how much potential they have are not really expected to reach the level of bitcoin even ethereum that is already second to bitcoin does not pose as a threat to bitcoin

There's a great future for Solana if trump wins the next presidential election and stand by his words and even if he loses or wins and didn't stand by his words in supporting cryptocurrency Solana will still grow.

how did trump get into the discussion of solana? as far as i know i have never heard him talk about other coins aside from bitcoin and i am not even sure if altcoins are part of trump's plans when he becomes president

[armanda90]

Instead of worrying about Solana's future, why don't you invest in them for short term since the future of altcoins can't be ascertained and altcoins are only good for short term?

One of the worst mistakes investors make is to think that a coin apart from bitcoin would remain the top best altcoins to invest in all the time, just because it showed a great price movement and coins are aligning on its blockchain, that makes it the perfect coin that can't be rugpulled.

Short term is the best way trading with Solana coins after crashing yesterday when bitcoin drop under $49k and most significant recovering of Solana coins. My buy order around 112$ success filled and I am too hurry for selling above $130 without few hours later Solana coins success break out above $150.
Solana coins is most profitable altcoin trading for short term trader typical, they can take much profit and keep consistent with Solana because always get faster for recovery after dropping lower price and most faster than top other altcoin such as BNB or ETH taken around few days later for recovering back to higher price.

[Hamza2424]

Hmm, SOL is behaving super similar to Bitcoin and Eth, TBH haha there's a lot of potential in the SOL if you don't consider it overvalued. SOL is good for the accumulation, but i dont know why but I am not ready to consider another reliable asset other than Bitcoin and ETH. Haha also you should know many times SOL chain got down.

[Agbe]

Hmm, SOL is behaving super similar to Bitcoin and Eth, TBH haha there's a lot of potential in the SOL if you don't consider it overvalued. SOL is good for the accumulation, but i dont know why but I am not ready to consider another reliable asset other than Bitcoin and ETH. Haha also you should know many times SOL chain got down.

I got a pop up news from my notification area today and it says that Solana has outperform Ethereum and Bitcoin in the recently cryptocurrency downtime period. Though I have not followed Sol and Eth market caps and prices foe some months now so I am not conversant with them again. But seeing the news today, I was like wow! https://www.coindesk.com/markets/2024/08/07/solana-hits-all-time-high-against-ether-outperforms-bitcoin-in-crypto-rebound/. That is for the main time, those two coins will still surpass Solana again.