Solana has experienced notable growth in the DeFi, NFT, and Web3 markets since its inception in April 2019. Numerous projects are currently being developed on the Solana network, with more expected to emerge soon.
According to information provided on Solana’s official website, the company’s main value proposition is offering low-cost transactions indefinitely. As a blockchain network, it competes directly with other platforms, such as Ethereum. Solana had breached the price level of $100 after a prolonged year of downward trend. However, according to recent data, SOL has been down by over 10% in the last seven days and over 3% in the last 24 hours.
With the whole cryptocurrency market trading in the red, here is our price prediction for Solana (SOL) for the end of January.
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SOL price prediction for the end of January
Various factors, such as market conditions, price action, developments, supply, and use cases, will determine whether Solana’s SOL can shoot up or go down in price at the end of January.
Based on its behavior at the start of 2024, cryptocurrency experts at Changelly offer their price prediction for Solana SOL for January’s end. For this timeframe, SOL’s minimum price is anticipated to be $99, and its maximum is anticipated to be $100.6.
Also read: Cardano (ADA) Price Prediction: January End 2024
Additionally, experts expect that SOL will trade at an average price of $97 to $104 at the end of January. Changelly experts predict that the SOL price is likely to reclaim $100 during the weekend. However, the entire prediction could depend on the overall market sentiment.