Solana has great news now and is ready to buy a better one.
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Solana seems to have recovered from the negativity that followed its 2021 network outage.
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When the market is not yet fully out of the bearish trend, rumors of it being a Ponzi scheme have created waves.
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Solana has better prospects than Waves in the short term.
solana (SOL/USD) is a smart platform blockchain that has grown in popularity for its high speed and low transaction speed. Ahead of the crypto correction of the past two days, Solana had begun to outperform most of the other top 10 cryptocurrencies in gains. This is an indicator that investors are becoming more confident in Solana’s future growth following a series of networks in late 2021. Given the huge investment in Solana NFTs, the growth prospects for Solana look good.
Wave’s (Waves / USD), on its part, is also a smart contract platform that has grown in popularity for its use cases in DeFi. A few weeks ago, Waves outperformed most cryptocurrencies by a huge margin. Following the sanctions, it followed speculation that it was a Russian project and that the Russians would use it for transactions and safeguard against erosion of funds. However, the waves have declined faster than average over the past few days. This follows rumors that it could be a Ponzi scheme.
which dip to buy
While Solana and Waves are cryptocurrencies with high potential and will recover from this fall, Solana has better prospects. One of the reasons Solana has better odds is that it has a large ecosystem of projects building on top of it. Solana has a lot of hype especially among institutional investors, which could play well in its favor as the bulls return to the market.
The waves are a much smaller range and are not as famous as Solana. Furthermore, after the recent rumors of it being Ponzi, it may take longer for Waves to gain traction as the market is highly volatile.
summary
Both Solana and Waves are high-capacity smart contract blockchains. However, after a negative rumor about Waves, Solana could be a better buy in the near term. This makes SOL a better buy during the current cryptocurrency market downturn.