Is SOLANA still a GOOD COIN to BUY FOR THE BULL RUN?

During the previous bull run, $SOL had an impressive performance, surpassing $260+ and currently trading at $24.5. This means it would need to increase by over 10X+ to reach its previous all-time high (ATH).

So, the question is: Is it worth buying $SOL at this price? Let's dive into some current metrics:

1/ Total Value Locked ( TVL )

Solana's Total Value Locked (TVL) reached an all-time high (ATH) of over $9.7 billion, but it has now decreased to $323 million which makes SOL to experience the most significant growth among the top 10 blockchains by TVL in the past month, week, and day. However, we are seeing some upside in Solana TVLs, with growth of over 40% in the past month, although it is still way lower than before.

2/ Daily Active Users

Solana currently has around 103K daily active users, based on a 30-day average. This number is lower than before, but it is somewhat expected in a bear market.

3/ Fees generated by the Protocol

Fees (30d) - $1.49M, showing a +45% increase from the previous month.

4/ Solana Ecosystem :

With the introduction of new protocols, such as Liquid Staking, a bullish narrative is emerging. Protocols like Marinade Finance and Lido are providing Liquid Staking derivatives (LSD), which are helping to fuel the growth of the SOL ecosystem.

There are many other narratives to look out for in Solana Like VCs, as one of the biggest Solana investors which you all know when down causing SOL even crash to $8.

So The main question: Will I invest in Solana?

Well Maybe Not, While there are other Layer1/Layer2 solutions that I'm keeping an eye on, it doesn't mean that Solana is a bad investment. Solana has significant potential for growth in the upcoming bull run. However, personally, I believe I can achieve better returns by investing in other coins rather than Solana. That's my personal opinion.

Make sure to do your own research before investing...

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