Solana is not just the most efficient Ethereum killer but also one of the most promising of the top altcoins.
But at the time of writing, it is battling scandals, and SOL is also down 50% from January’s all-time high. So why does it deserve your $1000?
Two primary factors make Solana the best altcoin to buy right now. First, SOL is grossly undervalued – not only relative to its all-time high but also relative to its potential.
Over the last 30 days, the altcoin has shed more than 30% of its value – crashing from a high of $213 to a multi-month low of $125.
Buy Solana Because it is Grossly Undervalued
Relative to the all-time high set in January, Solana is down 50%, which implies that when it eventually rebounds and recaptures the all-time high, you will double your investment.
Relative to its expected long-term performance, some analysts are confident that you stand to grow your investment by as much as 660% before year-end and by as much as 1300% by the turn of the decade if their medium to long-term forecasts of $1,000 by 2025 and $2,000 by 2030 come true.
Buy Solana Because it is Hugely Resilient
Secondly, Solana is worth your money because its resilience is legendary.
In the past, it has overcome multiple bear markets and survived pretty devastating price crashes. In December 2022, for example, SOL prices had crashed by more than 97% following the FTX exchange scandal and bankruptcy.
Network downtimes have also had a negative impact on SOL prices, and it has always survived and rallied to a new all-time high.
At the moment, Solana is down because of the Libra scandal that exposed the many scams being perpetrated on the Pump.Fun memecoin factory.
It is also down because of the bearish watch-and-wait mood that has engulfed the markets after Trump tariffs came to effect. The upside to this is that both factors dragging down SOL prices are temporal.
Final Word
If you have $1000, consider buying Solana because its massive undervaluation makes it a profitable investment both in the short term and over the longer term.
All the factors dragging its price down are temporal, implying that it will soon overcome them and resume the rally as soon as the market hints at recovery.
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