Is Solana Dead? 3 Catalysts That Will Bring Its Resurgence.

by | Jul 10, 2023 | Altcoins, Reviews | 0 comments

Solana faced a major setback after being labelled a security by the SEC in June 2023.

This resulted in the coin being delisted from popular crypto exchanges and led to significant sell-offs by crypto funds.

As a result, Solana’s price dropped from $22 to $14, causing a 36% decline for investors holding the token.

The question asked by investors at this time is, will SOL go to zero or is it a good time to buy?  

In this post, I intend to throw light on the reasons why Solana isn’t dead yet.

If you’re a SOL holder or considering investing in Solana, this post is a must-read.

Watch this 6-minute video if you prefer, or continue reading below. The choice is yours to make.

Solana, Why It Shouldn’t Be Written Off Yet

Anatoly the creator of Solana and his team are cooking up 3 things to change the narrative of Solana to the positive:

    1. Solana To Integrate AI

    The Solana ecosystem is set to integrate AI. 

    Anatoly said this in a recent interview:

    When computers were created, they had no mouse, you can only integrate the computer by text. 

    Whatever you need the computer to do, you have to type it. 

    The invention of the mouse changed everything, you can click, drag, and drop.

    Using the computer became easier and effortless and the user interface was revolutionized!

    In the same way, blockchains the way it is now is like the computer without the mouse. Adding AI is like adding the mouse. And This is exactly where Solana is headed. 

    Anatoly envisions a future where complex actions on Solana can be accomplished simply by asking. 

    He also mentioned that any Solana developer looking to create a customer-oriented DApp should seriously consider adopting AI within their product.

    Picture this: You could automatically create an NFT collection by specifying its size, art style, and premise. And as a bonus, AI can set up a Discord and answer questions for you. Isn’t that cool?

    2. The Asian Market

    In April, Solana launched a smartphone called Saga the first-ever crypto-native smartphone in the world. 

    How did it do? Not so good.

    The phone’s sales have been underperforming. How poor? Only 1,891k mint

    However, it is safe to say that SAGA was not built to compete with the 1.2 billion users iPhone market and the over 3 billion Android market. 

    Saga is a proof-of-concept device that offers us a glimpse into the endless possibilities of crypto and smartphones.

    Saga is a huge milestone for the Solana community but until it receives a certain level of adoption, the success is not complete. 

    And this is looking bright because the Asian market is warming up to Saga.

    China turning positive on crypto, a famous Chinese reviewer gave Saga a thumbs up and countries like Japan and Singapore are embracing blockchain innovation. 

    So the odds are in favour of Solana for pushing toward Asia with the Saga.

    3. Solana Integrates With DePay

    Last month, DePay a Web3 Payment Platform announced an integration with Solana.

    So besides giving users another payment option, this integration will expand the use cases of the Solana chain through connections to WordPress, WooCommerce, Shopify, etc. 

    We can say that Solana is not the only Blockchain to integrate with Depay. but With its remarkable transactional throughput, cost efficiency, and high speed, Solana outshines its competitors.

    Solana’s strength has always been on the user experience and they keep taking this up the notch 

    The Solana Dilemma: Is it Time to Buy or Stay Away?

    Solana has been through a lot in the past few months.

    The FTX crash, and recently the SEC declaring it unregistered security led to it being delisted from some US exchanges. 

    It is, however, beginning to regain some lost ground. over 14% increase in the last 9 days. And it looks set to come back higher.

    If it reclaims the $19 – $22 resistance region, it can lead to $30 in the coming months.

    But then crypto may not reach new highs in 2023 as this year is mainly for accumulation, with lots of consolidation across the board. 

    So, SOL’s price has little chance of breaking past $30 and going higher. 

    At $21.08, which is where the coin is now (on July 10, 2023), it’s a good point for accumulating.

    Perhaps, the coin drops to $15 or even $12.25, they’re also excellent points for profitability in a long enough timeframe. 

    So don’t expect SOL to be the outperformer for the next few months.

    Note: None of this is financial advice. Information only. See where and how to buy Solana below.

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    Paschaline Anagor
    I am a passionate crypto enthusiast with over three years of experience in the crypto world. Sharing insights on crypto trading, Web3, DeFi, NFTs, and the latest crypto news. Subscribe to the blog to explore the world of digital currencies!