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. These projects further fuel the price of the network’s native currency, SOL.
With the upcoming Bitcoin Halving scheduled for late April, Solana SOL is expected to see further growth. In fact, analysts project a surge north of $200 for the currency. Can SOL reach as high as $250 before the Bitcoin halving? If this occurs, the surge following the halving could be monumental.
Solana SOL Price Prediction Post-Bitcoin Halving
Solana SOL is down to $183.65 at press time but has remained up 6% in the past week. The currency rode the overall market surge at the beginning of March, climbing over 60% in the last 30 days.
Various factors, such as market conditions, price action, developments, supply, and use cases, will determine whether Solana’s SOL can shoot up or go down in price in April. Furthermore, the Bitcoin Halving is expected to fuel another crypto market pump next month. With all of these factors in consideration, it is possible that Solana can encroach the $250 mark.
Also Read: Solana: Can SOL Reach $300 in April 2024?
Solana has been on a positive trajectory recently. It even outperformed Bitcoin and Ethereum in terms of gains. SOL also dethroned BNB to earn the spot as the fourth-largest cryptocurrency by market capitalization in a short span of time recently. It has since dropped back to fifth but remains close behind Binance’s coin.
Analysts predict Solana SOL to stay north of $200 prior to the halving as the minimum. However, predictions for a maximum for SOL in April are mixed, with some seeing $250 as a max price and others even doubling that prediction.