Is Solana a Buy? Growth Numbers Show Mixed Message
Solana (CRYPTO: SOL) has become one of the most talked-about cryptocurrency projects this year. Setting aside Solana's impressive growth and innovation since its inception, there's ongoing debate about whether Solana is worth a buy, given its recent hype.
In 2022, Solana saw its value collapse amid its ties to the now-bankrupt crypto exchange FTX, as well as plunging transaction volumes. Last year, average daily fee payers dropped significantly compared to the prior year, with a decline of more than 50% in non-voting transactions. However, active development projects on the platform also saw a bump, surging 36% year over year. This indicates that, while user growth may be down, developers are still building on the Solana blockchain.
So, then, what do we make of these metrics?
Source Fool.com
