Gaming sector has seen a massive level of acceleration within the crypto sphere, should you buy SOL ?
- SOL's value saw an increase of 4% in the last 24 hours.
- Its trading volume also increased by 21% throughout that same span of time.
- SOL has an upward momentum which could lead it to much higher growth.
Follow Invezz on Telegram, Twitter, and Google News for instant updates >
Solana SOL/USD is a public and open-source blockchain platform that enables smart contract functionality, non-fungible tokens (NFTs) alongside a variety of decentralized applications (dApps).
The native cryptocurrency token that powers the Solana blockchain is known as SOL, a token that provides network security through staking.
The increase in adoption of gaming as a catalyst for growth
Solana’s value has seen a huge increase throughout the week, and there are numerous reasons as to why this might be occurring.
Solana’s uptrend came at a time shortly after Krafton, which is a publisher of the popular battle royal game Player Unknown’s Battleground (PUBG), made an announcement that it is partnering up with Solana Labs to develop blockchain games on top of its network.
However, numerous other companies are also announcing their launch of projects within the Solana blockchain.
Specifically, Block Tackle shared that it is developing a Solana NFT skateboarding game.
This increased adoption and overall interest within the gaming sphere could lead to an even higher level of growth for the Solana (SOL) cryptocurrency token.
Should you buy Solana (SOL)?
On March 25, 2022, Solana (SOL) had a value of $103.11.
To truly see what this value point indicates for the value of the SOL token, we will be going over its ATH value point alongside the performance it showcased throughout the previous month.
When we go over the all-time high value, Solana (SOL) achieved its ATH point of value on November 6, 2021, when the token reached a value of $259.96.
When we go over the performance of the token throughout the previous month, Solana (SOL) had its highest point of value on February 7, when it reached $121.33.
Its lowest point of value was on February 24, when the token decreased to a value of $77.99. Here we can see that the token saw a decrease in its value by $43.34 or by 35%.
However, since then, the token has increased in value by $25.12 or by 32%. With this in mind, we can expect SOL to reach a value of $120 by the end of March 2022.
Get started in crypto easily by following crypto signals & charts by pro-trader Lisa N Edwards. Sign-up today for easy-to-follow trades for tonnes of altcoins at GSIC.