Solana’s (SOL), however, did not experience the same decline as other markets. This asset fell by only 7%, a much smaller drop than the overall market. SOL’s value has increased by 7 % in the last seven days. As of the writing, SOL was currently trading at $142 – just shy of the $150 mark. Investors were still expecting a good weekend, even if SOL was currently declining.
The data collected from ChangellySolana should trade in the range of $144 over this weekend. On Friday, Solana will begin at $145. However, on Saturday and in Sunday it will drop to $144. The asset will only increase by a tiny 2% from current levels.
Also Read: Bitcoin & Ethereum Ruled as Commodities in Illinois, CFTC Chair Says
Solana’s Bright Future
A cryptocurrency analyst at VirtualBacon was pushed by recent research and the market’s sentiment. channel Bitcoin as well as Solana have high-level goals. Bitcoin’s market capitalization is predicted to reach $5 trillion by the year 2025. The price per coin is $250,000
SOL’s estimates are also optimistic. Asset may hit a maximum of $8,000. Market cap of the asset has risen from 0.75 % to 3% in the last 12 months. This surge was the basis for the prediction. Solana may see its price rise even further if it reaches a market share of 5%. Solana’s ever-growing supply also plays a role. The asset’s supply is predicted to grow by 625,000,000 tokens in 2025. According to the analyst,
“I had estimated a price of $240 to $250 based on a lower market dominance assumption for Solana. But with its current growth, I now expect Solana’s price to reach around $480, assuming a 3% market dominance. If Solana’s market dominance increases to 5%, the price could potentially reach $800.”
Also Read: Bitwise Says SEC is Open to Solana ETF After Ethereum Launch
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru