Solana(SOL) Crash?

Solana is trading at 83.62 at this moment and it might head towards its recent support level at 78.60. Sol has been an important coin for the hottest NFT Project at the moment of posting, STEPN walks to earn the project.

If you are like me and thought of buying the coin at its low to buy your NFTs shoes, you might not be happy with what happened in the marketplace.

I'm not saying is not possible but your chance is slim when the price of SOL drops, the shoes in the marketplace will increase, it seems that the people who are in the STEPN project are tracking the price and will adjust the selling price as it goes.

I've seen that the price of the common shoe is appreciating but uncommon and rare shoe prices drop(based on the lowest price listing). That's good news for grinders.

Well, if you thought of buying the coin low and waiting for the coin to appreciate back to its 102-108 range before getting your NFTs shoes, you might be disappointed with what I'd discovered.

It may take 4-6weeks for SOL to recover to its former glory, that's how the market works. You might buy 13SOL at 83USD/sol and wait for it to hit back to its 100USD/sol range and hope people are selling their shoes are 11.59-12.24sol.

First, that's a lot of ifs and waiting, too many moving parts, I'm not liking it. But if it happens. You might save 100-200USD, but what you are losing out on are the earnings from the activity(the GST earnings when you run).

At the point of observation/strategising each GST is at 6.29USD/GST. Every day I could easily earn more than 8GST(level3~4 shoes which you can get by the 3rd day) from 10mins of running, you will be losing out more than you thought you are benefiting from waiting.

Let's just take 5USD/GST, 1 month that would be 150GST(without strategy) X 5USD = 750USD and that's when you don't strategies and you don't level your shoes, which is impossible.

Just by that, waiting do more harm and just getting right on it.