Is Ethereum Competitor Solana (SOL) a buy for you?

I would say 2 parts would play in sol's rise .

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1. is that it's currently NFT season and solana is has created some projects surrounding NFT that brings in retail .
2. all L1 projects are boosting are the moment as confidence comes back to the space .

whether or not you should invest is a good question , depends on your investment tactics you have for the space . Diversify yourself to understand different aspects of what can be done in crypto and make your stand .

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Because if it's just the boost that interests you , there are plenty others like FTM , AVAX , LUNA to consider as well .

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#notfinancialadvice

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Solana is a solid project, potentially promising, did a video few months back when it was $20-30+ range, a starter for those who are keen to learn more on it !

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https://youtu.be/7aA9_sgB0QY

In general, it's hard to tell if SOL is over priced considering crypto's volatility. You might be looking at a market cap of SOL that is ridiculously small today, a week from now.

If you truly view SOL as an ETH competitor, I think the least riskiest option would be to dollar cost average. NFA, just an opinion on how to mitigate the risk if you're in it for the long haul.

Beyond that you might wanna consider specifically whether SOL is truly ETH's competitor. In terms of programmability, SOL uses Rust, which is not easily convertible to Solidity, ETH's native language. In terms of applications, SOL' s ecosystem is arguably not even as robust as some of the smaller cap coins. Only in terms of community, does SOL seem to stand out.

So it becomes whether or not you believe the big names like AAVE and Curve will find it worthwhile to overcome the programmability challenges and bridge liquidity and yield generation methods to SOL. Otherwise, SOL will simply be a fragmented ecosystem on its own.

I agree with the other responses and I wouldn't be buying at current prices as it seems that Solana's price is rising due to the impact of Degenerate Ape's NFT sale on Solana. Nevertheless, I'm accumulating free Solana from my yield farms on Saber!