Solana (SOL) has displayed incredible growth and robustness over the last few years. The asset was among the best-performing cryptocurrencies of 2023, rallying by more than 1000% at one point.
SOL’s value plummeted after the collapse of FTX in November 2022. The asset’s price fell to below $10 in late 2022. Since its 2022 lows, SOL has made quite a comeback. The crypto is currently down by only 5.7% from its all-time high of $259.96.
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Solana Predicted To Breach The $500 Level
According to a report by Standard Chartered, SOL will outperform Bitcoin (BTC) and Ethereum (ETH) if Donald Trump wins the US Presidential election. The financial institution predicted SOL to rally by 400%, given Trump wins. Since Trump has been declared the winner, there is a high probability SOL will surge to new highs.
Hitting $500 from current price levels will entail a rally of about 103%. According to Changelly, SOL could breach the $500 level in February 2028, a little over three years from now.
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Telegaon analysts are more bullish on Solana (SOL) than Changelly. The platform anticipates the asset to hit the $500 mark sometime in 2026.
Matt Sigel, head of digital asset research at VanEck, anticipates a Solana ETF (Exchange Traded Fund) before the end of 2025. An SOL ETF could help push the asset’s price even further.
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The SOL network has also witnessed incredible growth over the last year. SOL-based memecoins are dominating the memecoin space. Projects like Pepe (PEPE), dogwifhat (WIF), Bonk (BONK), Popcat (POPCAT), etc., have experienced stellar rallies in the last few months. Many anticipate the SOL network to eventually overtake Ethereum (ETH) as the most utilized blockchain for crypto projects.