The downtrend of the crypto market is the opportunity for investors to pick a promising asset and pass it to their portfolio before the next bull market trend starts. It allows one to enter the market at the lowest price and sell assets when the price boosts. The year 2022 demonstrated the entire crypto market drop. However, many investors are now looking for coins to buy on the dip. One such asset is Solana. In this article, we will briefly discuss this project, find out the current price of Solana and the best place to buy this coin.
What is Solana?
Solana is a blockchain project that is the basis for developers to create and deploy their products – these are decentralized applications, smart contracts, blockchain games, metaverses, etc.
Solana has become very popular over the last few years. SOL crypto price peak was fixed at the mark of $258 in November 2021 before the huge collapse occurred. As of mid-December 2022, the SOL cryptocurrency price is $14.
Many people said that Solana could overperform the popular Ethereum network – at that time, Solana had many advantages (before the Ethereum blockchain switched to the Proof-of-Stake mechanism):
- high throughput;
- low transaction fees;
- possibility for staking.
SOL crypto is not mined – it is staked. Staking means locking SOL coins on the network for some period of time and receiving additional SOL coins in return as soon as the staking program expires.
Where To Buy SOL Crypto?
The best place to buy and trade SOL coins is the WhiteBIT platform. It is a centralized crypto exchange supporting over 450 crypto pairs and offering advanced trading tools such as futures, margin, and others. To learn more about the platform, visit its blog, where they publish interesting articles, overviews, guides and quizzes.