Solana (SOL) was one of the worst-affected crypto projects after the collapse of FTX. SOL’s TVL (Total Value Locked) fell by over 90% in 2022, from $6.68 billion in January to $206 million in December. However, the asset has made a considerable comeback over the last year.
SOL is currently up 6.6% in the daily charts and 15.4% over the previous month. Moreover, the asset’s price has surged by over 385% since February 2023.
Also Read: Solana High Transaction Fees Wreak Havoc; Can It Reverse SOL‘s Price?
Can you become a millionaire with Solana (SOL) in 2024?
According to Changelly, SOL could reach a maximum price of $130.13 in 2024, which it may attain in July. To have one million dollars worth of SOL at $130.13 per coin, you will need about 7,684.62 tokens. The cost of 7684.62 tokens right now is about $852,839.46. The portfolio’s value would rise by about 17.2%.
Also Read: Solana: Here is How To Be a Millionaire When SOL Reaches $200
Telegaon, on the other hand, anticipates Solana (SOL) to reach a maximum price of $165.16 in 2024. To have one million dollars worth of SOL at $165.16 per coin, you will need about 6054.73 tokens. The cost of 6054.73 tokens right now is about $671,954.46. If this prediction comes to fruition, the portfolio’s value will rise by about 48.8%.
There is also a possibility that Solana (SOL) could rise higher than predicted, given we enter a bull run. Many analysts anticipate a bull market later this year, fuelled by Bitcoin’s (BTC) halving in April and the possibility of a spot Ethereum (ETH) ETF (Exchange Traded Fund) approval by the US SEC (Securities and Exchange Commission). BTC has reclaimed the $55k level, last seen in late 2021, over two years ago. If BTC hits a new all-time high, other assets, such as Solana (SOL), may follow suit.