Is Solana (SOL) Coin A Good Buy After Profit Booking Sell-Off?

There are many cryptocurrencies which have already clocked enormous gains over the course of the past year or so and hence, it might be time to look into new opportunities.

Key Takeaways

One of the coins that you could consider looking into at this point in time is that of Solana (SOL). It is a coin that was not only created with a specific set of purposes in mind but it also offers significant functionality that investors shouldn’t forget. The cryptocurrency had been created by an ex operating systems lead developer at Qualcomm named Anatoly Yakovenko.

The main purpose of the platform was to act as a platform on which developers could work and more importantly, the platform is scalable. In essence, the Solana blockchain is programmable in nature and smart contracts make up the basis of the Decentralised Applications that are built on the blockchain.

As one can see, the blockchain is highly innovative in nature and serves a range of purposes for developers. In addition to that, it the Solana token has also grown at a breakneck pace in recent times and is currently the third most valuable cryptocurrency in the world by market cap.