Can Solana [SOL] Hit $170 by Mid-June 2024?

Sahana Kiran
Source – Gemini

The Solana [SOL] network has been lauded for its swift transactions and low fees. The technology-focused network has time and again proved its utility with the launch of an array of services. This undoubtedly sets the network apart while inducing optimism around its native token SOL. At press time, Solana was trading at $155.80 following a daily dip of around 2%. This decline pales in comparison to the downturns seen across the rest of the market. However, the prospects of a price surge cannot be negated as the market approaches mid-June.

According to recent forecasts from Changelly, SOL is expected to be trading around the $161 to $162 levels in the next couple of days. Though this isn’t a drastic pump from the asset’s current levels, any kind of boost would be beneficial to the network.


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Will the Launch of Fuse Aid This Uptick?

Several factors could come into play for Solana to reach this level. However, the recent launch of Fuse, Solana’s first-ever smart wallet could elevate the numbers. The wallet developed by Squads Labs, represents a prominent innovation in the Solana’s ecosystem. It should be noted that Squads Labs are the creators of the multisig and Solana Virtual Machine [SVM]. The wallet is currently available on iOS through public TestFlight.

Additionally, Fuse aims to revolutionize the process of investors managing their cryptocurrencies. Through the use of smart accounts, Fuse will make sure to deliver a user-focused approach to wallet functionality. It is further designed to meet individual asset management needs.

Other Security Features in Fuse

Fuse stands out for various reasons. The wallet entails a unique dual-layered security model. This utilizes two primary keys or Active Keys including a “Device Key” which remains on the user’s phone. Furthermore, it uses Apple’s biometric authentication or Face ID for enhanced security.

While $170 doesn’t seem far off, the combination of market recovery and technological advancements is needed for Solana to garner a push.

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