Although Solana (CRYPTO: SOL) currently sits 67% below its all-time high, which was set in November 2021, this cryptocurrency has still skyrocketed 2,700% in the last three years. That gain crushes the rise of the Nasdaq Composite Index.

The impressive price performance highlights how successful it's been to speculate on this digital token in the past, despite its volatility. Bullish supporters are hoping for this to continue in the years ahead.

However, price changes might mask the fact that Solana has potential in the payments market, a lucrative area of the financial services sector. Could this innovative crypto possibly even be the PayPal (NASDAQ: PYPL) of the future? Let's take a closer look.

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Source Fool.com