To make this decision, let's first base on the basic parameters and make some judgments
Currently, Solana coin (SOL) is ranked 11th based on total market capitalization of 9,162,370,817.39 USD.
Solana (SOL) is a coin with a lot of potential for development. And just if you believe this coin to be in the top 10, long-term investment is a very good decision.
If you take the market capitalization of this coin at 9,162,370,817.39 $US compared to the current top 1 coin Bitcoin (BTC ) with a market capitalization of $451,414,605,948.51, the growth potential of Solana is also likely to increase. grow 49.3 times more`
In the past 30 days, Solana coin has been going up quite well, but this may also be the reason why you should be cautious when entering into surfing right now, the wallet may be temporarily negative for the coin to return to the current stage. adjustments in the near future.
However, if you want to invest for the long term, this is not a problem. If you are a new investor and you need more time to learn about Solana coin (SOL), you should invest according to the price average method (DCA). That is, a regular investment, every day, every week, every month a fixed amount.
Following a price averaging strategy will help you minimize risk, and avoid the most situations of halving or tripling assets when the market goes down.
As of April 05, 02, Solana's Market Cap (SOL) is US $ 9,162,370,817.39
Market Cap = Current Price x Circulating Supply
Is the total market value of the circulating supply of cryptocurrencies. It is similar to the stock market measurement of multiplying the price per share by the stock available in the market (not held and locked by insiders, government)
According to data updated on 05/02/2023, Solana's 24 Hour Trading Volume (SOL) is US $ 358,502,931.20 . This trading volume accounts for 0.04% total market capitalization.
A measure of cryptocurrency trading volume across all platforms tracked over the past 24 hours. This is tracked on a rotating 24-hour basis with no opening/closing times.
However, please note that there will be a few platforms, which we do not track, but most of this number is very small compared to the trading volume of centralized exchanges like Binance and decentralized. like PancakeSwap
In the long-term, the price of Solana has dropped sharply with -29.84670725 % and is located at the price zone of 24.59247683 US$.
The short-term (here we look at the price of the week for a more stable view than intraday) has been slightly up to 1.86553081
If you are a HOLDER (i.e. players who make profits based on the length of time) then you should focus on the 90 day long term trend. However, if the investment case is the platform coins alone, then you need to observe with a time length that can be longer than 6 months or sometimes 1 year.
If this coin has many large investors who are funds, you should monitor the movements of investment funds to be able to make the right comments in the future.
In the long term future, the cryptocurrency market will develop very strongly, however in the short term there will be price hikes by market makers. So learn carefully the information so that you can calm down before the ups and downs of the market.
These are just extremely basic analysis of the Solana (SOL), you should not rely solely on this information to make buying or selling decisions.
We advise you to be wise and prudent investors.