Solana Rivals to Buy as SOL Faces Uncertainty in September

Data from cryptoranks shows Solana coin historical performance based on every month since 2020. The chart below indicates uncertain trends for SOL price in September

As the Solana (SOL) coin price signals a continuation of a sideways trend, several emerging layer 1 cryptocurrencies are presenting themselves as interesting Solana rivals to buy.

Over the past five months, the Solana coin has wavered around the $160 level, projecting a lack of luster performance. As reported by data from cryptoranks, the SOL coin has posted an average monthly growth of +1.05% and a median return of +6.5%. This suggests that Solana buyers may face challenges in achieving a sustainable recovery in the upcoming months, potentially giving its competitors in the layer 1 space an opportunity to gain momentum.

Solana Rivals to Buy as SOL Faces Uncertainty in September

Based on every month since 2020, Data from cryptoranks shows the Solana coin historical performance. The chart below indicates uncertain trends for SOL price in September, with an average growth of +0.85% and a median return of +6.5%. This suggests that Solana buyers may face challenges in achieving a sustainable recovery in the upcoming months, potentially giving its competitors in the layer 1 space an opportunity to gain momentum.

Toncoin (TON)

Toncoin, the native cryptocurrency of the TON blockchain, has experienced rapid growth in 2024, driven by its integration with Telegram and strong ecosystem developments. At press time, the TON price traded at $6.7 and boasted a market cap of $17 billion.

Amid its growing utility in decentralized finance, play-to-earn games, and fast, low-cost transactions, Toncoin stands strong among Solana Rivals to buy. Data from IntoTheBlock analytics highlights a significant milestone for the TON network, with the number of addresses holding a balance surpassing the 40 million mark. The parabolic in this address state indicates increasing adoption and a robust network, attracting both retail and institutional investors.

With sustained buying, the asset could drive a 28% surge to challenge the $8.3 All-time High.

Cardano (ADA)

The layer 1 cryptocurrency Cardano has traded sideways for the past two months. With its current trading price at $0.35, ADA is down 88.65% from its all-time high of $3.10 while maintaining a market capitalization of $12.6 billion.

According to Santiment data, the supply distribution among Cardano addresses holding between 1,000,000 and 10,000,000 coins has displayed a notable rally. The on-chain metric recently spiked to 2460 ADA coins, hints the large holders (whales) are accumulating this asset and projecting confidence for a further price rally.

If the bullish momentum persists, the ADA price could rally 20% to retest $0.425 resistance, followed by $0.81.

Avalanche (AVAX)

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