Investors are Making Money with Solana: One-Year Investment Return Hits 670%, the Highest Among the Top 20 Cryptos

August 31, 5:44 am

Although most of the world's largest cryptos have seen impressive investment returns year-to-date, following their strong performance in 2023, none can compete with Solana, undoubtedly the best performer among the largest cryptos by market cap.

According to data presented by AltIndex.com, Solana's one-year investment return hit almost 670%, bringing the biggest gains of all the largest cryptocurrencies.

Solana Brought 5x Bigger Gains than Bitcoin and BNB and 10x than Higher than Ethereum

Solana's price has seen dramatic fluctuations over the past few years, starting from less than a dollar in 2020, then soaring to over $200 amid the 2021 crypto bull market, and finally plunging by more than 95% during the crypto winter. However, after ending 2022 as one of the biggest crypto losers, Solana started gaining ground again last year.

The broader recovery of the crypto market, surging interest in blockchain technology, and improvements in Solana's ecosystem have pushed it back into the spotlight of the crypto space. Moreover, due to its low fees and fast transaction speeds, Solana became one of the top platforms for different DeFi applications, NFTs, meme coins, and decentralized exchanges (DEXs), which only fueled its growth. As a result, Solana's price surged by an impressive 377% by the end of the year, marking a significant recovery after a challenging 2022. Still, that is nothing compared to the crypto coin's gains this year.

According to CoinMarketCap data, Solana's one-year investment return hit 670% last week, nearly double its entire 2023 gain. This figure is even more impressive when compared to other top cryptos by market cap, which all had a strong start in 2024. For instance, Solana's one-year investment return is five times higher than that of Bitcoin or BNB and ten times higher than that of Ethereum. Statistics show Kaspa and Toncoin were the only two cryptos somewhat close to Solana, with 371% and 209% investment returns, respectively. All other major cryptos saw much smaller gains.

TRON, Avalanche, Chainlink, and Internet Computer brought between 100% and 160% gains. Dogecoin, Cardano, and Uniswap were far below these figures, with 74%, 44%, and 38% one-year investment returns as of last week. Statistics show the price of Near Protocol remained practically the same as in August last year, while Bitcoin Cash, Polygon, and Litecoin are the only three major cryptos with negative investment returns of 0.1%, 5.5%, and 1.5%, respectively.

A $1,000 Investment in Solana a Year Ago Would be Worth over $8,000 Today

Although early Solana investors will have the last laugh, even investing in SOL tokens a year ago would bring an impressive return. Assuming an investor bought $1,000 worth of SOL tokens in August 2023, they would have picked up 50 coins priced at around $20. Thanks to Solana's strong performance, that $1,000 investment would grow to $6,000 just four months later.

Despite the significant price fluctuations between April and July and a further 14% drop in the first weeks of August, Solana's price still recovered to $160 last week, turning that $1,000 investment into more than $8,000.

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