Are you looking for the Solana price? The UK market views can be informative.

The term 'solana price uk' is a hot phrase on Google, and here's why.

The [Solana](https://solana.com/) price (UK and elsewhere) has performed exceptionally well since its inception in 2019. However, that doesn't imply you should get in and invest right away.

Instead, think about the potential rewards as well as the risks before investing any money.

## A Little Knowledge on Solana

Solana was created in 2019 to address the shortcomings of traditional blockchains such as [Ethereum](/coins/eth). This means providing network users with a blockchain ledger that is faster, cheaper, and more scalable.

For example, even though Ethereum is the world's second-largest cryptocurrency and the de-facto smart contract system of choice, it can only handle 15 transactions per second. This is just too inefficient to be used as a worldwide blockchain network. On the other hand, Solana is said to be capable of processing over 65,000 transactions per second.

Another reason for Solana's popularity is that the blockchain network can process transactions in as little as 2-3 seconds, compared to the 13-15 seconds for Ethereum. Furthermore, although Ethereum transactions are notorious for having high costs when the network is busy, Solana transactions are lower cost.

Based on these performance-driven measures, many market observers predict that Solana will one day overtake Ethereum in terms of market valuation and global acceptance. Solana, like Ethereum, has its own native cryptocurrency token, SOL, which trades on exchanges.

### So why is 'solana price uk' such a popular search term?

Interest in Solana grows, despite its volatility. However, many crypto traders are sceptical about Solana's winning streak and are hesitant to buy it. Below are some of Solana's advantages and disadvantages to help investors decide whether Solana is a suitable investment for 2022 or not.

## Disadvantages 

1.	Unstable network: The investor community in Solana is still in its infancy. Investors may be hesitant to choose SOL over Ethereum because it is less well known. When the Solana Foundation confirmed its network was experiencing instability, the crypto's reputation took a knock. Because crypto investors value trust, this flaw sets SOL apart from its competitors.

2.	Inflation: Cryptocurrencies rose in popularity in 2020 for various reasons, one of which was to use them as a hedge against inflation. Most cryptocurrencies have a fixed limit on the number of coins that will ever exist. However, Solana does not have a consistent supply of currency. The designers started boosting the annual supply of SOL tokens by 8%, which means that the inflation rate will reduce by 15% until it reaches 1.5 percent, which will stop decreasing.

3.	Solana isn't decentralized enough: While some crypto enthusiasts claim there aren't many drawbacks to investing in SOL, this cryptocurrency element is widely regarded as its most significant drawback. The ETH network currently has approximately 200,000 validators, while the Solana network has only 1,000 validators. The more validators there are, the more secure the network becomes.

## Advantages

1.	Solana has the third-largest features market: Solana has the third-largest open interest in futures contracts, the most crucial measure in derivatives contracts. Regardless of its current trading capacity, the aggregate derives the total number of contacts stored on its network by market players. Open futures interest has maintained its previous levels despite a steep drop in price in early November.

2.	NFTs and Smart Contract: Over the last year, the NFT industry has exploded. Non-fungible tokens became a high-growth industry prospect, with massive sales sponsored by renowned digital artists. Solana went into the market to share the NFT alternative, taking advantage of the growing sector.

3.	There's a solid institutional attraction for Solana's ecosystem: The market capitalization of Solana is more than quadruple that of Avalanche and Terra. The last year has shown strong signs of SOL's rising investor community, and with increased investor adoption comes increased institutional adoption.

SOL's suitability for your investment is determined by your risk tolerance, asset diversification, and the amount of money you wish to invest. It's crucial to conduct research before investing in highly volatile assets like cryptocurrencies to see if they're a good fit for your portfolio.


Solana Price: UK Market View on SOL

It is time to ask ourselves 'are crypto bubbles bursting?'.

The rise of [Bitcoin](/coins/btc) (BTC -0.62%), [Ethereum](/coins/eth) (ETH -1.23%),[ Dogecoin](/coins/doge) (DOGE 4.64%), and some other digital currencies has prepared the way for once-in-a-lifetime profits. For example, when Bitcoin topped $64,800 a token in mid-April, a $155 investment at $1 would have been worth nearly $1 million.

However, cryptocurrency has plummeted in value during the last two weeks. Some could call this a natural retracement following a monster run upward. Still, I'd like to refer to it as a popping bubble.

While many people feel that digital currencies are the best thing since the invention of chocolate, I believe the crypto market is collapsing for several reasons.

## Some Governments Aren't Okay with Cryptocurrency

The crypto bubble is bursting because some countries are concerned about cryptocurrencies undermining their central bank-backed currencies. For example, China sent the cryptocurrency market into a tailspin last week when it announced that its banks and online payment channels would no longer be able to provide any cryptocurrency-related services.

However, it's worth noting that a significant amount of Bitcoin mining occurs in China. In this regard, China is far from alone. For example, Turkey recently passed legislation prohibiting the use of cryptocurrency for payment. Meanwhile, digital currencies are illegal in Bolivia, Ecuador, Nigeria, and Algeria. As a result of this trend, the global use case for cryptocurrency is becoming increasingly unlikely.

## Centralisation is Still an Issue

One of the goals of cryptocurrencies is decentralisation. This was done to ensure that a network is not controlled by a single person or a small group. However, according to BitInfoCharts.com, ownership of Bitcoin and Dogecoin is relatively consolidated. For example, only 2,155 addresses control roughly 42% of all Bitcoin, and only 99 addresses control 66.6% of Dogecoin. As a result, people may recognize that these financial experiments aren't as decentralized as they should be.

## The Real-World Utility is Minimal

A severe drawback of digital currency is that it is practically useless outside of a cryptocurrency exchange. Even though many well-known corporations or organisations have accepted Bitcoin or Dogecoin, the total number of businesses accepting either is still insignificant.

## There is No Entry Barrier

My main issue with cryptocurrency, aside from its lack of utility, is that there is no entry barrier. Anyone with a computer or an innate desire to code can create a blockchain and, possibly, a tethered token. [CoinMarketCap](https://coinmarketcap.com/) claims to have a database of around 10,000 different cryptocurrencies. While many aren't actively traded, the number of potential competitors to Bitcoin, Dogecoin, and Ethereum is staggering, with many more on the way. In short, the crypto sector is constantly being diluted by an infinite number of competitors.

## There is No Identifiable Real-World Correlation

Another concern with crypto is that there are no obvious real-world correlations. For example, we know that gold and the US dollar have an inverse relationship. Gold is more likely to rise when the value of the dollar falls. This is a long-term relationship that has formed.

Bitcoin, Ethereum, and Dogecoin do not have these correlations. Crypto enthusiasts want to emphasize how crypto is a hedge against inflation. Still, they forget that the value of Bitcoin has fluctuated depending on how quickly or slowly the money supply expanded. Because cryptocurrency has no physical connections, it is fueled by emotion and technical analysis.

## Over Leveraging Can Be Haunting the Crypto Market

Customers at some of the most well-known cryptocurrency exchanges will be able to multiply their account equity by 50 to 125 times. While this level of leverage is common in forex, where currencies move in fractions of a cent, it is absurd for cryptocurrency, which can swing 3% in seconds. According to data from Bybt.com via Bloomberg, approximately 887,000 accounts representing $9.4 billion in total crypto assets were liquidated on May 19 due to leverage-based margin calls. It doesn't take much for the crypto market to go south rapidly because of this tremendous leverage.

## Investors Always Overhype New Tech

Finally, investors usually overestimate new technology uptake. Even though many people are enthusiastic about blockchain, it has been more than a half-decade, and the euphoria has yet to translate into actual enterprise use. Every next big-thing technology, including cryptocurrency, requires time to mature.


Are Crypto Bubbles Bursting? They May Be...

A sense of optimism hung in the crypto air this morning as [Bitcoin](/coins/btc) and other major cryptocurrencies bounced strongly after a week of heavy losses.

At the time of writing, the price of Bitcoin stood at $36,460 representing an increase of 8.10% in the last 24 hours while Ethereum gained 8.23% reaching a price of $2,423. The total market cap of crypto currently stands at $1.65 trillion, an increase of 7.71%. After a week of absolute carnage, it appears that investors have indeed bought the dip demonstrating continued strength in the cryptocurrency market.

## Increasing correlation to traditional markets

Bitcoin began its bounce on Monday as US east coast traders returned to their desks after lunch. Interestingly the US equity market also saw a strong surge during the same time indicating Bitcoin’s increased correlation with traditional markets. With many eyes on today’s meeting of the Federal Reserve Open Market Committee (FOMC) which is anticipated to discuss interest rate rises and continued asset purchases, this week could be very interesting indeed.

The Relative Strength Index continues to indicate Bitcoin is heavily oversold which would suggest a turnaround is imminent as buyers seek to take advantage of the discounted prices. As we have mentioned before, historically Bitcoin often begins strong rallies after precipitous falls. Could this be the start of a rally to new all-time highs?

## Alt season on hold?

Mike McGlone, Chief Commodity Strategist at Bloomberg Intelligence however was not so optimistic for altcoins going on record to say, “Price reversion in crypto is likely to spread in 2022 after the assets were a poster child of speculative inflationary excess in 2021, but Bitcoin stands to come out ahead.”

However, as we can see above many of the major altcoins demonstrated as much resilience in Bitcoin with equally strong bounces. Solana, Polkadot, Atom, and Avalanche all posted 24-hour gains ranging between 12% and 17% respectively. The crypto market may be down, but it is certainly not out.

## ‘I'm loving it’

Finally, in a candidate for tweet of the year already the official Twitter account of McDonald’s Restaurants asked “[how are you doing people who run crypto twitter accounts?](https://twitter.com/McDonalds/status/1485726032967704582)” Demonstrating the humour and camaraderie that has come to be associated with what is known as ‘crypto Twitter’ McDonald’s are clearly getting their own back on all those crypto tweeters who see a job at McDonald’s as the last resort in a prolonged bear market. However, I and many others have a feeling that McDonald’s will soon be eating their own words, with extra fries.

Bitcoin and Crypto Rebound After Week of Loss

Should we be concerned?  So far, 2022 has put the digital assets market squarely in ‘bloodbath’ territory, and investors are making for the hills once again.  What is it about the month of January that that brings out the absolute _worst_ in cryptocurrency investors?  At least, that’s what the history of this youthful market has taught us.  However, we’ve seen the bottom fall out on earlier occasions, and, unlike the [Dotcom bubble of 2000](https://www.thebalance.com/what-was-the-dotcom-bubble-5209336), cryptocurrencies have been able to pull off some rather remarkable ‘come backs’ in their history.

Cryptocurrencies are a rapidly evolving market, but it _is still_ a nascent market - miles away from maturity.  Heck, it’s scarcely even regulated!  So long as digital assets, and the [blockchain technologies](https://www.pwc.com/us/en/industries/financial-services/fintech/bitcoin-blockchain-cryptocurrency.html) behind them, continue innovating, finding their rightful place in the market, cryptocurrencies are going to remain a highly volatile environment.  What we’re seeing again this month is that trademark volatility.

## Cryptocurrency or Dotcoms?

The distinction between cryptocurrencies and the dotcoms of the late nineties is that investors suddenly realized, mostly in March of 2000, that many of the online companies with a “.com” at the end of the web address had business models that simply weren’t viable, as well as wildly unprofitable.  In the case of cryptocurrencies, there is an evolution of new technologies taking place - financial innovations.  Digital currencies are designed with the intention of redefining how the world uses money.  How it evolves is a question yet to be answered, but for now, investors are still largely convinced that the difference between profitability and loss has more to do with timing than any other factors.  Every cryptocurrency investor should expect that, no matter what digital coin they invest in, it’s likely to encounter huge fluctuations in valuation.  Again, this is the kind of volatility we should expect from an immature market.

So how many of us a year from now will look back, and wish we’d only _bought more_ cryptocurrency this month?

## A new Global Finance

The momentum that seems to buoy cryptocurrencies every time the market tanks is the belief that cryptocurrencies genuinely represent the very early stages of a new version of global finance that operates on these new blockchain technologies.  Where’s my proof?  Look at the ATMs that are getting as much utilisation as a public phone booth nowadays.  Find me one member of the Gen Z demographic that’s visited a bank recently.  You may have difficulty _finding a millennial_ that’s ever physically walked into a bank. In modern society, conducting financial transactions has become a predominantly online experience.  The pandemic of the last two years has only galvanised that trend.

Instead of walking up to an ATM or going into a branch, society handles their finances via tablets, smart phones, and laptops.

The advent of digital assets suggests that the most innovative concepts of finance are possibly yet to be revealed.  The blockchain technologies powering cryptocurrencies represent faster, more prudent means of exchanging currency and it is expected to transform global finance.  2021 was simply a watershed year for cryptocurrencies, despite them being banned by the Chinese government.  There’s still more excitement than there is trepidation in this market, and that means 2022 is shaping up to be another active year. 

In other words, the best is yet to come.



Crypto Market is Down – Bloodbath or Bargains?

A new year often means a fresh start but is this the case in the cryptocurrency industry? Lets take a closer look.

At the time of press, the cryptocurrency industry is currently worth $2.23 trillion and shows a 0.79% decrease over the last 24 hour period. In contrast the total amount of crypto traded (volume) in the last 24 hours has risen by 42.06% to $108.48 billion indicating sellers have marginal control over the market.

For extra detail DeFi makes up 21.38% of the total crypto market volume at $23.20 billion whilst stable coins represent 61.47% of the last 24 hour trading volume at $66.69 billion. This data shows the cryptocurrency market is relatively stable going in to 2022 and could be viewed as a ‘bottom’ with prices anticipated to rise in the near term.

## Bitcoin price stability
---------------------------

At the time of press the price of [Bitcoin](/coins/btc) is $46,607, a [decrease of 1.00% in the last 24 hours](https://coinmarketcap.com/currencies/bitcoin/), whilst market dominance continues to fall and currently stands at 39.60%, a drop of 0.08% over the last day.  On Monday, January 3rd Bitcoin celebrated its 13th birthday and shows no signs of slowing down or letting other coins take the number one spot.

Although Bitcoin may never be used to buy a simple cup of coffee, many people are beginning to see Bitcoin as alternative rival to gold as a store of wealth and a solid hedge against rising inflation. Indeed, Grayscale Investment Management recorded returns of 62.2% for its Bitcoin Trust in the last 12 months easily eclipsing the 2% offered by Gold.

## $55 billion Grayscale AUM
-----------------------------

Grayscale are firm believers in the transformational power of cryptocurrencies and describe themselves as ‘the leading partner to investors who wish to navigate and deploy capital into this new asset class’. At time of press, Grayscale is the worlds largest digital currency asset manager with $55 billion worth of assets under management. However, all that being said Grayscale have actually reduced their cryptocurrency exposure in the last couple of months as prices have failed to ignite.

In early November Grayscale AUM were sitting at a comfortably $61 billion but the lack of price action since then has seen the company sell off 30% and 22% of their Bitcoin and [Ethereum](/news/category/ethereum-news-today) trusts respectively. However, recent data shows that since December 31st 2021 Grayscale have purchased $11.4 billion worth of cryptocurrency demonstrating once more their confidence in the cryptocurrency and digital asset market moving in to the new year. Long may this continue.


2022- new beginnings for the cryptocurrency market?

2021- It’s the _most wonderful_ time of the year!  Speculation abounds over which altcoins are most favourably positioned to be cryptocurrency’s biggest GAINERS in the coming new year and would-be millionaires remain poised and at the ready to pounce on the exchanges.
2022. 

## A Look Back at 2021

However, a look back reveals that 2021 was a year of substantial achievements for the nascent digital assets market – a handful of these events were considered watershed moments at the time.  Signals that cryptocurrencies could not only stand up to the test of time, but also events that suggested cryptocurrencies had finally reached that oh-so-important stage of “mainstream adoption” – a key benchmark indicating a global embrace of [Bitcoin](/coins/btc), [Ethereum](/coins/eth) and other commonly known cryptocurrencies by modern society.

## 2021 Cryptocurrency Achievements

The waning days of 2021 have been rocky for cryptocurrency investors, but it was undeniably a year that the cryptocurrency market reached a new level of maturity.  Below we share of the few of the most noteworthy achievements for cryptocurrencies in 2021:

*   Celebrity CEO and Bitcoin mega-booster, Elon Musk, issued a series of public comments via Twitter that pumped up significant public interest in cryptocurrencies.  The Tesla CEO _did_ put his money where his mouth was with an announcement in early 2021 that his company would be making a $1.5 billion investment in Bitcoin.

*   Proshares introduced the world’s first exchange traded fund (ETF) – the Bitcoin Strategy ETF ([BITO](https://www.proshares.com/our-etfs/strategic/bitCo)).  More than 24 million shares worth over $1 billion were traded…on _the first_ day.  Within 24 hours the fund had accumulated $570 million in assets.

*   Crypto-investors partied the night away when the nation of El Salvador became the first country in the world [to consider Bitcoin legal tender, meaning all vendors in the nation are _now required_ to accept Bitcoin as payment.

*   Business intelligence powerhouse, Microstrategy, upped its Bitcoin holdings to the tune of $6 billion which the rest of corporate America would go on to interpret as “proof positive” that they too could start taking digital currency investing seriously.

*   Industry leading financial companies like Venmo, Paypal, and even Mastercard setup their popular platforms to accommodate Bitcoin and other cryptocurrencies.

*   Non-Fungible Tokens (NFTs) crashed onto the scene in early March when a digital work of art that was created and sold as a unique NFT fetched over $69 million at a Christie’s auction. The name of the art was “Everydays: The First 5000 Days” and is simply a mosaic of illustrations and sketches created by a popular artist that goes by the moniker “Beeple.” 

*   Finally, how could we exclude [Dogecoin](/coins/doge)?  The market’s (and the world’s) first meme coin initially minted as a joke was introduced to an unsuspecting world and went stratospheric thanks to celebrity backing from Mark Cuban and Snoop Dogg.  Dogecoin had achieved a mind-boggling 12,000% increase in value by May of 2021.

## 2022 Cryptocurrency Predictions
-----------------------------------

So, what’s to come in 2022?  Who’s to know for certain?

Bitcoin has been the industry titan since the market’s inception, but there are those who see Ethereum overtaking Bitcoin in the year to come.  Bitcoin is expected to reach $100,000 in the not-so-distant future, will 2022 be the year?  If we use 2021 as a guide, all we can say for sure is that anything is possible in this market.  It has evolved in both size and in public popularity – both trends you can expect to see continue in 2022.



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