Solana [SOL] Over the last two years, bitcoin has become an important source of inspiration for investors. Further excitement has been generated by the latest breaking through of resistance at $150. It also raises questions regarding its growth potential by April 2024.
The market is currently bullish, with an increase in price of more than 2% within the past 24 hours. SOL rose to $158 on Tuesday with an increase of over 3% in 24 hours. CoinMarketCap.
Analysts have attributed the latest rise in Solana to historical price fluctuations and the correlation between Bitcoin’s halving cycle. Although projections show a Solana low for the year of only $152.74, there is a significant upside. Some forecasts suggest that Solana could reach as high as $400.04 in the year. next year.
Also Read: Solana’s Meme Coin Meltdown: 12 Presale Assets Abandoned
The Short-Term Future
Solana is expected to maintain its trajectory as we near the end of April in 2024. Analysts predict that Solana will remain at its current price or experience a minor dip. Changelly predicts that SOL will remain stable on the short-term.
Solana Ascendancy In NFT Transactions
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Solana is asserting its dominance over the NFT industry. It has registered more than 1.2 millions transactions just in the last week. SOL has risen to the top of established players such as Ethereum and Polygon due to the surge in activity. This indicates that the NFT market has undergone a significant shift.
Initial network growth was closely tied to the spread of meme coins. This latest increase in NFT transaction further highlights the network’s wider utility and appeal. Solana investors can be confident about the future of Solana, as forecasts show that it will gain further in coming months and even years. All eyes will be on Solana in April 2024 as the crypto world continues to witness its rapid rise.
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Source: watcher.guru