This crypto coin has been nothing but trouble since it launched, and shows no signs of improvement.
For starters, the Solana team has been plagued by continuous software issues. Just a few months after launch, they had to issue a major software update to fix a critical flaw. And since then, there have been numerous other issues, big and small.
Is this a case of bad luck ? - Or is it indicative of a lack of professionalism and competence on the part of the Solana team. If they can't get their act together on the technical side, it's hard to have any confidence in their ability to deliver on their promises.
What's more, the Solana team has been frustratingly tight-lipped about all of these issues. They've failed to communicate effectively with their investors and users, leaving us in the dark about what's going on.
Recently the team behind the coin, attempted to stop one of its investors, from selling COIN, by freezing his account. This is a very worrying sign.
In light of all this, it's hard to to warrant the recovery of the coin. Why is Solana always one of the first coins to show improvement, In fact analyzing the charts, shows a unwarranted pattern related to the movement of the coin.
There are plenty of other crypto coins out there, that don't have these same problems - so why does solana always recover and why is there so little news of all its faults and issues. Its surprising that crypto influences who are sponsored by FTX or any of SBF companies, seem to never openly discuss the failures of the coin.
This is more then likely due to the large sponsorship's these crypto entities recieve from the coin backers.
With all its technical flaws, Solana still ticks, all the right boxes. One things we agree on, is utility and technology is second to market making and marketing. Investors look for coins that always recover. Such projects with the ability to market make and have liquidity within themselves to allow trade growth, regardless of markets, seem to be the safest coins to invest in, during recovery markets. Not based on the projects success, but on the projects access to liquidity by its backers.
Do your own research before investing in any crypto, and remember - if something sounds too good to be true, it probably is.
This article is part of the Inside Cryptos, uncaged series.
So what do you think? Is Solana a great coin that's worth your investment based on its current technology, or is it better to choose a coin, that has liquidity support, rather then having, any actual workable technology. Let us know in the comments below!