Should You Buy Solana Hand Over Fist While It's Below $200? [Yahoo! Finance]
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In the past 12 months, Solana (CRYPTO: SOL) has skyrocketed nearly 800%, which would have turned a $1,000 investment into $9,000 in just one year. As of this writing, SOL, Solana's native token, is off 26% from its 2024 peak. The market seems to be taking a breather, even though this is currently the fifth-most valuable blockchain on Earth. While it trades below $200, is it time to buy this innovative cryptocurrency hand over fist? A unique blockchain There are virtually an unlimited number of cryptocurrencies out there. While the vast majority are useless projects, maybe even outright scams, Solana stands out from the crowd. This is a truly unique network. Like Ethereum , Solana operates with a proof-of-stake (PoS) consensus algorithm. This is designed to be an energy-efficient method of processing transactions that relies on token holders to approve new blocks. PoS makes Solana more functional and useful when it comes to decentralized applications (dApps) , like non-fungibl
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