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 like Ethereum.
Following the recent surge in Bitcoin’s price, Solana has exhibited a 15% gain in the last 24 hours. According to CoinGecko data, SOL is up from a 24-hour low of $108.51 to a high of $12867 at press time.
With the whole cryptocurrency market exhibiting a notable surge, here is our price prediction for Solana (SOL).
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Will SOL hit $200 next?
Factors such as market conditions, price action, developments, supply, and use cases will determine whether Solana’s SOL can hit $200 soon.
Based on its behavior at the start of 2024, cryptocurrency experts at Changelly offer their price prediction for Solana SOL. According to their prediction, SOL is likely to hit $200 in 2025.
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For the month of March, SOL’s minimum price is anticipated to be $108.34, and its maximum is anticipated to be $133.05. The average price of SOL is anticipated to be around $120.
The recent SOL surge comes at a time when Bitcoin has surged to $64,000 and has now fallen to its current price of $62,115. Solana’s next leg of the bullish run could depend on the overall market conditions.
Nevertheless, SOL has embarked on a positive journey after being affected by the collapse of the FTX exchange. The coin looks poised to make its next bull run.