The growth of many different crypto currencies has been significant in this year. One asset has stood out among the recent surges. Specifically, Solana (SOL) The market cap could reach $100 billion in 2024.
According to reports, it is the 5th largest cryptocurrency in terms of market capitalization. CoinMarketCap. A total of $69 billion could be the catalyst for a 40% increase in value, which would bring it up to $100 billion. But the big question is, could this happen?
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Solana Targets A $100 Billion Market Value in 2024
We’ve already stated that Solana, the digital currency is the 5th most valuable on the market. Moreover, it is only surpassed in value by Bitcoin (BTC), Ethereum(ETH), Stablecoin Tether(USDT), BNB. It is possible that the token will break into the top 3 crypto currencies by the end of this year.
Solana’s (SOL), in particular, could be preparing for an increase to $100 billion of market value by 2024. Investor confidence has bolstered the asset’s growth trajectory. Inflows of assets have shown a significant turnaround that could lead to a positive growth trajectory over the coming years. next Month for token
Robinhood Crypto has announced earlier today that it will be offering Solana stakes to its European clients. This news seems to have continued the rally in asset prices. It has jumped more than 7% in the last day. The current price is above $153; it has also been positive over the last 30 days.
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In addition, Solana has played a key role in some of this year’s most significant digital asset development. It was the home of many assets which were part of the meme coin craze in March. Dogwifhat (WIF) Book of Meme, BOME and other assets based on Solana.
It certainly has done well for the blockchain as well as it’s native token. It also officially passed Ethereum for the first ever in terms of maximum extractable value on 12th May, despite any outage fears. The network lived up to its ‘Ethereum killer’ nickname by outperforming its competitor in decentralized exchange volumes at various points this year.
This asset has increased by more than 615 percent since this time last year, confirming its upward trend. It is a question of whether it can increase by the required 40% in order to reach a 100 billion dollar market cap. Answer: Yes. And if the ecosystem and investor confidence continue to be healthy, they could achieve this milestone by next year.
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Source: watcher.guru