is the crypto SOL a promising investment?

Although short-term volatility may be concerning, investing in the crypto Solana promises excellent long-term price prospects. SOL continues to surprise investors with its explosive growth, reaching over 75 million active addresses. 

Let’s see all the details below. 

Price and volatility forecasts for the crypto Solana: what to expect from the investment 

Solana (SOL) has recently reached a new milestone with over 75 million active monthly addresses, a result that highlights the growing popularity of the blockchain network.

This increase in activity, visible especially in the sector of decentralized applications (dApp), DeFi and NFT, makes Solana one of the most scalable and efficient networks available on the market.

The growing adoption of the platform by developers and users is a positive signal for those looking for long-term investment opportunities.

Despite this positive momentum, Solana has experienced a phase of volatility in the market. 

On September 18, SOL recorded $121,000 in short liquidations and approximately $3.2 million in long liquidations, with Binance seeing the majority of long positions liquidated.

This scenario indicates caution among traders regarding short-term price movements, but does not compromise future growth prospects.

According to forecasts, Solana could experience bear pressure in the short term. However, a significant price increase is expected in the next six months, with a potential rise of 115%. 

This makes Solana an interesting option for those looking for a long-term investment, despite the current market oscillations.

The strong increase in active addresses reflects the scalability of the network, capable of handling a high volume of transactions with low fees. 

This factor, along with the expansion of the DeFi and NFT ecosystem, suggests that Solana is destined to become one of the main blockchain networks, making it a solid investment opportunity for the future.

Play Solana Gen1: the first web3 gaming console on SOL blockchain

The Solana ecosystem continues to expand and increasingly target the mobile gaming sector, combining blockchain innovation with the world of games. 

Recently, the native Solana team, Play Solana, announced the launch of the first level-1 blockchain-based portable gaming console, called “Play Solana Gen1” (PSG1). 

This device marks a milestone for the Solana blockchain, confirming its commitment to the web3 and gaming sector.

The Play Solana Gen1 brings to mind the retro designs of portable gaming consoles, like the famous Nintendo Game Boy. Despite its nostalgic appearance, the PSG1 integrates the most modern blockchain technology, offering support for the decentralized network of Solana. 

However, the specific web3 games available for this platform have not yet been revealed, leaving players and enthusiasts waiting to discover which titles will be accessible through the console.

This initiative is part of a broader context of increasing adoption of web3 in the world of gaming and mobile. 

Play Solana has specified that the final design of the console might vary compared to the prototypes shown in the promotional materials, and that an official launch date has not yet been set. 

Despite this, interest in blockchain-based gaming devices seems to be in strong expansion.

Other players in the blockchain world are also betting on portable devices. Mysten Labs, for example, has announced the SuiPlay0X1 console, which calls itself the first native web3 portable device, with the launch scheduled for 2025. 

These developments suggest that the integration between blockchain and gaming is destined to grow, offering new opportunities for investors and for players.

Source: https://en.cryptonomist.ch/2024/09/20/solana-is-the-crypto-a-promising-investment-despite-short-term-price-volatility/