The SOL currency issued by Solana has decreased by 9% over the previous month since the company's network had yet another severe outage. In addition, one of its lending methods was the target of a $100 million breach.
Consequently, 63% of the individuals who participated in the expert panel no longer had complete faith in the blockchain. The negative trend SOL is now experiencing is consistent with the longer-term downward cycle in which SOL looks to be engaged.
How come the value of SOL coins has been dropping recently? Will the SOL token survive? Here, we look at the most recent advances and best eco-friendly alternatives like IMPT, Dash 2 Trade (D2T), Calvaria (RIA), and Tamadoge (TAMA).
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Solana Price Drops
SOL has been having many problems lately due to a large hack on a lending protocol built on Solana. An attacker stole $100 million from the DeFi platform Mango Markets, and they are now holding it hostage until the protocol pays off its outstanding debts.
Because of the hack on Mango Markets, the total value locked (TVL) on the Solana blockchain has significantly decreased. For example, it went from worth $1.32 billion on October 10 to $862 million three days later.
This announcement comes on the heels of yet another network failure, and it seems like this month will be challenging for Ethereum's biggest rival. The incorrect configuration of a node on October 1 caused the network to become inaccessible.
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Research conducted by Finder and recently revised findings indicated that thirty-three percent of experts on a panel had lost faith in the blockchain due to network disruptions. A further thirty percent of the panel was uncertain.
This has turned into unsettling price activity for SOL throughout this month. As of October 27, it was selling at $31.48, which decreased 9% from the previous month's price.
On the other hand, it had improved in the recent past, with SOL increasing by 7% over the preceding week. This came after reports that Tulip and UXD, two protocols that had been hacked as part of the Mango Markets attack, had successfully recovered their stolen tokens and were now again operational.
Solana Price Prediction
The Solana price forecast indicates that the whole cryptocurrency sector has significant untapped potential.
Even if there have been some worrying technical issues on the part of team Solana, our Solana price forecasts show that SOL is still an excellent investment that should be bought and held.
Solana is in a league of its own regarding safety and scalability because of its cutting-edge proof-of-history consensus mechanism, which is paired with proof-of-stake.
In addition, as Solana's user base expands, the network's size and decentralization will make it more difficult for hackers to breach security and less likely that the blockchain will experience any downtime.
Price Chart
| Year | Low | High |
| 2022 | $69.48 | $270.48 |
| 2023 | $305.27 | $482.04 Advertisement |
| 2024 | $359.71 | $840.49 |
| 2025 | $560.79 | $1405.90 |
| 2027 | $1789.08 | $2682.85 |
| 2030 | $3704.64 | $4428.60 |
Are There Any Good Eco-friendly Alternatives for Solana?
Although we anticipate that Solana will continue to expand in the years to come, we also anticipate that its route to profitability will be long and incremental.
Because of this, industry professionals recommend that we consider investing in specific alternatives to Solana that have much more significant profit potential for the time that will follow.
1. IMPT
IMPT is a brand-new and fascinating cryptocurrency that centers on the concept of contributing to the reduction of carbon credits.
It is a digital asset that is friendly to the environment and can be used by businesses and people to impact the world by lowering their carbon footprints.
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It works because customers buy IMPT tokens and then trade them for carbon credits. Afterwards, they can demolish the carbon credits to get special NFTs (tradable on secondary marketplaces).
You can also accumulate IMPT tokens by purchasing from partner brands on the platform. For example, the platform has formed partnerships with well-known companies such as Apple, Microsoft, and Levi's, amongst many others.
At this time, one IMPT token can be purchased for $0.023, although this cost is expected to climb as the project steadily advances to its third stage.
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2. Dash 2 Trade (D2T)
Dash 2 Trade is the most recent innovation in cryptocurrency analytics and social trading, and it was built by the seasoned veterans responsible for Learn2Trade.
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Dash 2 Trade's mission is to assist its customers in improving their trading choices and maximizing their earnings by providing them with world-class tools and unrivaled market information.
Dash 2 Trade, in contrast to other platforms for trading cryptocurrencies, provides more than only chart analysis indicators; it also combines social indicators that are calculated using real-time data.
Users of the D2T social dashboard will have access to one-of-a-kind social indicators that will assist them in making more well-informed choices and keeping track of pricing swings.
Notably, these indicators demonstrate whether specific price rises happened due to the media's attitude or as a direct result of the growth of genuine assets.
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Users are required to purchase D2T, which serves as both the native management and utility token for the platform, to get access to the platform's unique services.
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3. Calvaria (RIA)
The card game known as Calvaria: Duels of Eternity pits players against one another in tournaments utilizing cards representing a different character with their abilities.
To win against other players and collect rewards and upgrades, the player must use complex strategies and approaches.
RIA tokens are the main form of money and are an integral part of the game's economy. In addition, users may use NFT tokens to purchase in-game resources like upgrades or unique cards and earn money via gameplay with the eRIA (Earned RIA) token.
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In addition, there will be NFT collections available, the tokens for which will give the owners an advantage in the game.
Also, to have complete ownership of in-game resources, owners of collectable NFT tokens will have the opportunity to trade and sell their tokens on external NFT exchanges like OpenSea, Rarible, etc.
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4. Tamadoge (TAMA)
Tamadoge (TAMA) is an open-source smart contract decentralized cryptocurrency platform that revolutionizes the gaming industry by implementing DeFi protocols.
Tamadoge has the potential to become the next 100x cryptocurrency in 2022, following in the footsteps of previous meme currencies such as Doge and Shiba Inu, which have been beneficial for investors.
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The purpose that the project is meant to serve is a major consideration. A P2E metaverse platform is by Tama, the ecosystem's native currency. Users can earn digital tokens as in-game awards for their involvement on this platform.
Tama is a localized cryptocurrency that can be used to buy virtual pets in the form of canine-themed avatars. These canine-themed characters are referred to as Tamadoge. These monikers, constructed as NFTs, have cutting-edge contract elements built into them.
Users who have Tamadoge pets at their disposal are eligible to participate in monthly leaderboard contests to accumulate points and the opportunity to earn TAMA from "dogepools" and P2E prize pools.
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Bottom Line
Due to cryptocurrency's potential to radically alter the global monetary system, it has a secure future.
Worrying over cryptocurrency's potential impact on the environment is valid, but cryptos that minimize their impact are secure and can succeed. Moreover, the benefits they provide are many, especially in comparison to the benefits offered by traditional digital currencies.
As both efficient and long-lasting, traders can use these cryptos without mining. Because of these merits, they are the best possible financial investment. By 2023, these cryptocurrencies’ market values and popularity will have increased.
