I've Already Made $2,500 on Solana, Here's Why I Keep Holding

Back when Solana (CRYPTO: SOL) cost less than $10 I bought several dozen, knowing very little about the cryptocurrency but liking the fact it had a use case revolving around apps and non-fungible tokens (NFTs), which were making headlines at the time. Soon thereafter Solana's price rose modestly and I sold all but 10 Solana, making a modest profit but wanting to free up the liquidity for other, more active cryptocurrencies. Much to my surprise, Solana later soared, skyrocketing above $240 and giving the remaining 10 coins a value close to $2,500. Here's why I'm not selling them yet.

Much like an entrepreneur selling equipment to speculators rather than panning for gold himself, Solana's blockchain is designed to support other digital developments. These include apps, constructs related to financial services, and rapid, cheap transfers and transactions for other cryptocurrencies.

Image source: Getty Images.

Continue reading


Source Fool.com