In cryptocurrency market there are so many coins and we invest on some projects that we think have potential and can be profitable. Diversification is important and this is one of the methods that must be followed in all the investments. Bitcoin is the leader in the market so investing on this is always good because the more Bitcoins one can own is always good. I follow diversified approach with my investment in Crypto market and as part of this, I have invested in over 25 coins but I have gone through the projects before investing. Undoubtedly hive is the biggest one but I have parked some funds in other projects as in this market some projects do really well.
Solana is a project in the market that I have been following for quite some time and before I could invest, it's price was shot up hence I could not enter. I generally don't enter when I feel that the price is already on top because that is not the right approach. Now this time when alt coins are available at low price hence Solana price is also down. I finally invested in Solana now with a partial entry. I had kept some funds for Solana and now invested some part of it because this time market is unpredictable. If the price goes then whatever I have invested will get some profit but I am not planning to book profit on short term. If in case the Solana price goes down then it will allow me to buy more and this way I would be able to average out the prices.
The price for solana is down by almost 18% in last 30 days and this is a good drop hence I thought to enter at this price level. I never invested before on solana and looks like Solana can be a good profitable deal in the market. Although there have been some issues on its network but still the chain adoption is quite high. Because of this adoption the demand for coin is growing and it's resulting in the value appreciation. It's hard to say what price solana coin will achieve in the next bullrun cycle but hopefully this is going to be good.
It's a 5th rank coin as per the marketcap after BNB coin and BNB is trading above $500 however recently it has touched the price mark of $700 as well. I believe that BNB has potential and this is why holding BNB is a good idea. Now after the recent price growth of solana, it looks like this coin is also going to do well in the market. Again its not a financial advice and I have invested after my study and there is surety of the same performance in future hence must go through the project details before investing.
It's the time for meme coins and Solana network has got some that have created a lot of hype in market. This time people are looking forward for more meme coin projects but I still don't feel comfortable investing on such projects. A small amount can be ok for the investment but not a big amount a the risk appetite is very high.
Thank you
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