5 Cryptocurrencies Redditors are Buying Before Recession Begins

In this article, we discuss the 5 cryptocurrencies Redditors are buying before recession begins. If you want to read about some cryptocurrencies that Redditors are buying, go directly to 10 Cryptocurrencies Redditors are Buying Before Recession Begins. 

5. Solana

Solana is one of the most popular altcoins on the market. Investors have backed the coin as one of the main challengers to Ethereum, the second most popular coin globally. This is because the Solana network has lower transaction speeds and lower fees compared to the Ethereum network. Utility and community have driven a rapid rally in the price of the coin that has become one of the most popular crypto on Reddit. Solana is available on stock trading application Robinhood as well. All these use cases contribute to the overall asset value. 

Solana is also different from other coins since it uses a combination of proof-of-stake and proof-of-history mechanisms to achieve consensus. Since the Proof-of-Work (PoS) system is under fire for energy-intensive mining requirements, resulting in a subsequent risk associated with owning PoS coins, Solana is a much safer investment in this regard as well. Solana was launched in 2020 at a price of $0.77 per coin. In the two years since, this figure has climbed to around $136, representing an increase of 17,500%.