Solana (SOL) has had an incredible in the last few years. The asset took a massive beating after the collapse of FTX in November 2022, falling below $10. SOL’s price has since made an incredible comeback, going as high as $202 in April this year.
If you had invested $1000 every month since SOL’s debut in March 2020, you would have put in $51,000 till now. In four years, the investment would have grown to $1.44 million today, a rise of over 2737% and a profit of $1.39 million.
Also Read: Solana (SOL) Surges 800% This Year, Outpacing Bitcoin & Ethereum
If you had invested $1000 every month from March 2020 till Solana reached its all-time high in November 2021, you would have put in $20,000. In this scenario, your portfolio’s value would have risen to $1.6 million, a rise of about 7970%.
Can you still be a millionaire with Solana?
SOL is one of the biggest and most popular crypto projects in the market. The asset also has a lot of potential for growth.
Financial institution VanEck recently applied for a SOL ETF. If the authorities approve the SOL ETF, we may witness a massive price rally for the coin. The Securities and Exchange Commission approved the Ethereum ETFs last month, which may launch sometime in July. A similar pattern could unfold for Solana.
Also Read: Solana Weekend Forecast: VanEck ETF Filing To Help SOL Reclaim $200?
The SEC’s Bitcoin ETF approval led to a massive rally for the original cryptocurrency, which hit an all-time high in March. We may witness new all-time highs for Ethereum, following the launch of the ETH ETFs. If a Solana ETF is approved, the asset could hit new highs as well, and could breach the $1000 mark in the future.