Solana: Why you should be careful before buying into SOL

Once heralded as an ‘Ethereum killer’, Solana has seen better days. It had everything that a true blockchain network needed to make it successful – it was fast and cheap to transact on the blockchain without having to compromise on the security of the network. With transaction speeds well over 200 transactions per second, and over 111 billion transactions routed through the network – it was well on its way to actually beat Ethereum.

But, over the past year, it has had to deal with numerous breaches on its chain, some even amounting up to $100 million in the past year alone. It has suffered several network outages too, which isn’t something that is expected out of a high performance blockchain network.On the metrics front, it has lost out over 90% of the total-value-locked it had back in October-November 2021 and also at the same time its Sharpe Ratio is ranging in the negative zone for quite some time now. So overall, things seem to be pretty bearish for the coin that was once touted as an ‘Ethereum killer’.