On “The Crypto Show” aired on May 18, Fool writer Travis Hoium answered questions posed to him about cryptocurrencies. The expert shares that he does not have Bitcoin (BTC) and why he closely monitors 2 altcoin projects.
Travis Hoium: I don’t have Bitcoin (BTC), I’m buying these 2 altcoin projects
Travis Hoium is a veteran finance writer about the solar industry, renewable energy and gaming stocks, among other fields he is writing. He told in the interview that he is currently only investing in Ethereum (ETH) and Solana (SOL). Hoium presents a different argument for Bitcoin:
Should we not hesitate to add Ethereum to Solana? These are the two I have. I don’t have any Bitcoin. I think the best argument for bitcoin is gold, and that’s not something I normally understand or invest in.
The 9th largest cryptocurrency to market value, Solana (SOL) has become one of the most popular GameFi and win-to-play networks, given Ethereum’s network bottlenecks . The Solana network also hosts many popular NFT collections. On this, Travis Hoium says NFTs may rally again despite a major correction:
This has been a major pullback as I’ve been bullish on Ethereum and Solana and mostly own NFTs. What tends to happen is that the market will fall, the value of NFTs in crypto terms will rise at least a little. That blunts the blow for me from a valuation perspective, not saying it’s good when the crypto market drops, but I think I’d be comfortable adding both at this point because of what we’ve talked about. Construction is ongoing on both of these blockchains and, in my opinion, with some or at least some of the best projects in the NFT space. That’s my thoughts on this right now.
However, it’s worth noting that Solana has been struggling with network outages for a while.
Solana comes to the fore with network outages
As we have mentioned in the news of Kriptokoin.com, the network was temporarily stopped due to a block production error in Solana main beta. To fix the outage, Solana volidators had to reboot as per the instructions shared by the Twitter handle. The outage lasted more than 4 hours. Meanwhile, the SOL price dropped over 12%.
Solana (SOL) is the native and utility cryptocurrency for the Solana network. Launched in March 2020, SOL is used for value transfer on the Blockchain. It also ensures the security of Blockchain through staking. At the time of writing, Solana is trading at $38.82, down 8% in the last 24 hours.
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