The meme coin market is famous for making millionaires. This doesn’t mean that the other cryptocurrencies in the market cannot create rags-to-riches stories. Solana (SOL) has been one of the top-performing assets of the year.
The altcoin surged by nearly 600% over the past 12 months and by 15806.29% since its inception. For instance, just a year ago, SOL was trading at a low of $22 but went on to reach a high of $200 in less than a year.
At press time, Solana was trading at $132.21 with a 2% rise over the past 24 hours. Despite its stagnancy over the last few months, SOL is still considered a promising asset.
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How Much SOL To Buy?
Solana’s All-Time High
Solana hit its all-time high of $260 in 2021. Currently, SOL is 48% below this peak. Data from Changelly reveals that the altcoin will reach this high only in 2026. In particular, Solana will surge to $263 about two years from now.
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Potential Returns On Investment
In addition, purchasing 3846 SOL tokens could bring about life-changing returns. At Solana’s current price level, this investment would amount to $509,518. In the next two years, it will turn into $1,003,400.
Impact Of ETF Approval
This process could speed up if the Solana market approves an exchange-traded fund (ETF) in the United States. The 19b-4 filings were withdrawn because VanEck and 21Shares’ applications for Solana ETFs failed the SEC’s initial challenges.
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Considering this, the likelihood that SOL ETFs would be allowed this year isn’t too great. But with the elections in November, things might turn around rapidly.