Can Solana Price make Ethereum a comeback from Mega Drop?

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The community has been forced to reexamine the situation by Solana Price’s drop to single digits. They have some hope after the recent comments of Vitalik Buterin, Ethereum Co-Founder. The biggest question is ‘Can Solana make a comeback from this crisis?
Is Solana worth the price of taking a risk?
Experts believe that the Solana community has similar energy to Ethereum’s in the 2018-20 period. It is however difficult to see the investment case of Solana due to its massive headwinds.

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David Hoffman, co-founder of Bankless, stated that Ethereum’s price dropped to $80 in December 2017. It didn’t have any big competitors then. However, ETH’s L2 metrics have been growing big through 2022. Its impact can be seen in migration of L1 applications to ETH L2s.
Ethereum was not directly linked to the Solana crash. However, the SOL’s price performance was affected by Alameda research collapse and FTX.

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He suggested that Solana requires a social layer in order to cleanse. The competition in the crypto market is fierce and the Solana community won’t be able to restart it until then, which would cause a lot of damage.
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What can you do to help SOL right now?
The fate of the Solana network is ultimately up to its builders. It was a difficult bear market in 2018-20 and it will take a lot more work to overcome this cycle. The good news for Solana is the fact that SOL’s value now rests in the hands its own people.

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Hoffman said that the SOL price of $10 is a back-to-the truck moment, and that he added some when it dropped to $9.
Coingape reported earlier that ARK Invest Ex crypto led is still Going LONG’ on Solana prices. SOL has lost approximately 95% of its value on a year-to-date (YTD) basis.

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The content presented may contain the author’s personal opinion and is subject to market conditions. Before investing in cryptocurrency, do your market research. The publication or the author are not responsible for any financial loss.

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