Why Solana Is Poised to Rally
Solana (CRYPTO: SOL) was one of the best-performing cryptoassets in 2021, with gains of more than 11,000%, according to data from YCharts. The smart-contract platform gained the attention of investors thanks in part to its blazing fast transaction speeds and rapidly expanding developer community.
Yet after soaring above $260 in early November 2021, Solana went on to shed half its value by Jan. 10, 2022. Like other blockchain projects, Solana has been negatively impacted by an industrywide swoon that has driven the prices of many cryptocurrencies sharply lower in recent months.
However, Solana's token price has recovered some of its losses and climbed back above $150 this week. Following bullish analyst commentary, the cryptocurrency appears set for a rebound.
Source Fool.com
