The cryptocurrency market seems to be regaining some steam. Bitcoin (BTC) has reclaimed the $105,000 mark after falling below $102,000 earlier this week. The global crypto market cap has risen 1.5% in the last 24 hours to $3.77 trillion. Solana (SOL) follows the current market resurgence. The asset is inching closer to the $260 mark.
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Solana Gains Traction
SOL is engulfed in green today. The popular cryptocurrency has rallied 4.3% in the last 24 hours, 22.2% in the weekly charts, 37.6% in the 14-day charts, and 30.7% over the previous month. The asset has also risen by 211% since January 2024.
SOL is currently down by only 11.6% from its all-time high of $293.31. The asset peaked on Jan. 19, 2025.
The Cryptocurrency Market’s Latest Push
The crypto market picked up steam yesterday after a brief correction earlier this week. Solana (SOL) and other crypto assets have made significant gains since yesterday.
The latest surge is likely due to US President Donald Trump signing an executive order to establish a digital asset stockpile. According to the statement, “The digital asset industry plays a crucial role in innovation and economic development in the United States, as well as our Nation’s international leadership”
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Can SOL Hit $300 By The End Of January?
According to CoinCodex, SOL’s price will consolidate for the next week. The platform anticipates the asset to trade at $261.33 on Jan. 31, 2025. Hitting $261.33 from current price levels will entail a rally of about 0.53%.
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SOL could hit a new all-time high of $300 by the end of this month. The latest executive order could lead to a surge in investor sentiment. A rise in sentiment could trigger a rally to a new peak.