Key Points

Sentiment toward Solana remains poor currently, and its price has dropped significantly.
It remains the quickest major blockchain with the highest transaction capacity.
Yet it poses a risky proposition right now.
10 stocks we like better than Solana

Trading near $64, Solana (CRYPTO: SOL) sits 76 percent below its peak from January 2025. During this crypto downturn, it has followed the broader decline without generating much investor interest.

At these prices, does Solana warrant a buy, sell, or hold decision?

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Why has the selling intensified so much?

Solana's challenges reflect wider trends, as $250 billion has vanished from crypto market value since late May.

A cautious Federal Reserve, concerned about inflation fueled by the U.S.-Iran situation, creates macro uncertainty that typically harms crypto. At the same time, strong gains in artificial intelligence and semiconductor stocks have reduced appetite for crypto risk, since better opportunities appear available in steadier assets.

In addition, Solana carries its own issues.

Since 2024, it has turned into crypto's meme coin hub, where new projects create tokens prone to rapid declines after early sales. Compounding this, Drift, its top decentralized finance protocol, suffered a $285 million loss in April from North Korean hackers. Such incidents raise fears that emerging AI tools skilled in cyberattacks could worsen vulnerabilities.

Following these events, many question whether crypto merits ownership, as the sector and Solana specifically now evoke losses from scams, theft, or market drops.

The situation may improve over time

Even so, Solana shows resilience.

It achieves the highest practical transaction speed among major networks, processing over 1,800 transactions per second as of June 10, with finality times set to shrink dramatically after the Alpenglow upgrade completes this year. It also leads in on-chain tokenized equity trading volume. That area totals just $1.4 billion across networks, with Solana holding $341.3 million, small figures next to the $120 trillion global stock market.

One limitation is that network activity does not directly benefit Solana holders. Fees average a fraction of a cent, with only part burned, so substantial volume would be needed to lift SOL prices, offset further by ongoing token issuance that may dilute value slightly.

So what action fits best?

Most investors should retain holdings and wait. Those with diversified portfolios who can tolerate a further 30 percent decline might consider buying, provided they plan to keep positions for five years or longer.

Should you buy stock in Solana right now?

Before purchasing Solana, review this:

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Alex Carchidi has positions in Solana. The Motley Fool has positions in and recommends Solana. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.