Solana is predicted to hit $350 in the near future, as stablecoins surge. In fact, Solana’s network recorded stablecoin flows of up to $1.5 billion between December and January this year. DeFi Llama. Consequently, this could be vitally crucial to a SOL surge.
Recently, a crypto analyst predicted the future boom of stablecoins to propel SOL into new heights. According to, SOL is currently up 2.5% in the past 24 hours. CoinMarketCap. The trading volume of the stock has increased by 32% over that period.
![Solana](https://fxruhanahmed.com/2/wp-content/uploads/2024/06/Solana-SOL-Predicted-to-Hit-350-Amid-Surge-in-Stablecoin.png)
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Solana may target $350 to stabilize the value of stablecoins.
Solana’s contribution to the value of cryptocurrency has been difficult to underestimate this year. While the attention has been focused on the crypto-based exchange traded funds, the meme coin’s ongoing surge in value shows that the network is an important player.
But the blockchain native asset could still be at its best. One blockchain analyst even predicted that Solana, or SOL, could hit $350 if stablecoin flows continue to increase. SOL has seen a significant increase in stablecoin usage.
The following are some of the most common questions that people ask themselves. Gumshoe took to X (formerly Twitter) SOL. According to them, the stablecoins worth $1.5 billion that were going into Solana caused the asset’s 246% rise. They also stated that the market capitalization of stablecoins has reached all-time levels. “SOL will be at $350 minimum.”
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/Solana-Bitcoin-Connection-Drives-SOL-to-130-as-Halving.webp.webp)
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According to, in May this year the market capitalization of stablecoins reached $161 Billion, which was a record for the asset category. CCData. In addition, this figure is expected to continue growing in the future. Solana has a great chance to reap the benefits of this increase.
Solana’s link to memes, stablecoins, and other cryptocurrencies has created a major competitor. It is clear that blockchains should compete against industry giants. Solana surpassed Ethereum at several points during this year in terms of DEX volume.
The ETF mania will continue to fuel this trend. Solana has a great chance to be the first crypto-based exchange traded fund (ETF) as more are expected by the market. It is only a matter of time before we can confirm the validity of the rumors. However, it does speak volumes about the position SOL currently occupies.
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Source: watcher.guru