Here’s why Solana is stronger than ever; Is SOL a buy right now?
Solana (SOL) has grown stronger in 2023 despite the regulatory crackdown that impacted the cryptocurrency market. With growing adoption and bullish economic indicators, crypto investors wonder if SOL is a current ‘buy.’ It is important to highlight that the investment decision to buy a given asset must be personal. Speculators must come to their own conclusions after doing their due diligence on the desired financial product. Nevertheless, Finbold gathered fundamental aspects about Solana to provide valuable insights. We evaluated adoption, staking, decentralized finance (DeFi), and tokenomics. Solana investors are staking 93% of SOL’s total circulating supply Interestingly, investors are staking more than 93% of all Solana’s native tokens in circulation. Data retrieved by Finbold on December 2 from StakeRewards shows 395.88 million SOL staked in the protocol. Stake SOL data on December 2. Source: StakingRewards Cryptocurrency Breaking down the bullish and bearis...