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 has recently breached the price level of $100. According to recent data, SOL has dropped by over 6% in the last 24 hours.
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Even though the whole cryptocurrency market is trading in the green, Solana is trading in the red at press time. With the New Year almost here, here is our price prediction for Solana for January 2024.
How high can SOL go in January 2024?
Various factors, such as market conditions, price action, developments, supply, and use cases, will determine whether Solana’s SOL can shoot up in price in January 2024.
Based on SOL’s behavior at the start of 2023, cryptocurrency experts at Changelly offer their price prediction for Solana for January 2024. For this timeframe, SOL’s price is anticipated to be $116. In January 2024, the minimum price is anticipated to be $103.82. The maximum price is expected to reach $128.91.
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According to the latest CoinMarketCap data, Solana is trading at $105, with a 6% drop in value over the last 24 hours. SOL had recently surged past the $110 resistance. Amidst the market volatility, the price has dropped to the $105 level. However, prices can fluctuate and vary depending on the overall market conditions.