Solana (SOL) Could Hit New All-Time Highs, Says Investment Advisory Firm

In a recent interview, David Siemer, CEO of Wave Digital Assets, shared an optimistic outlook for Solana (SOL) and its future potential.

Investment advisory firm Wave Digital Assets is still bullish on Solana (SOL), despite the short-term challenges facing the token.

In a recent interview with SmartAsset, the firm’s CEO David Siemer highlighted several factors that could push Solana to new all-time highs in 2025.

Solana’s Momentum Remains Strong

Solana has emerged as one of the best-performing cryptocurrencies this year, driven by several key trends.

The rapid expansion of the DeFi ecosystem on Solana has attracted significant interest, while technical upgrades such as the integration of the ParallelChains technology are set to unlock even greater possibilities for the blockchain.

Furthermore, the surge in memecoin activity, particularly during the summer months, has contributed to increased trading volumes and a broader recovery in the cryptocurrency market.

“The current setup for Solana is really strong,” Siemer remarked, noting the blockchain’s growing use cases and increasing developer engagement.

However, Siemer also pointed out one challenge that could hinder Solana’s short-term price gains.

FTX Estate Sales Still a Headwind

Token unlocks related to the FTX bankruptcy estate are still applying sell pressure to Solana, a factor that could persist for another one to two years.

This sell-side overhang might slow down Solana’s momentum in the short term, but Siemer believes that these are temporary setbacks.

With continued user and developer growth, Solana remains one of the most compelling long-term plays in the crypto space, in his opinion.

Layer 1 Blockchain Competition: Room for Multiple Winners

On a broader level, Siemer rejected the notion of a single winner in the Layer 1 smart contract blockchain competition.

“There’s not going to be a winner — there’s going to be winners,” he said, likening the evolving blockchain sector to the traditional software industry, where many companies thrive simultaneously across different niches.

For instance, in the email service sector, both Gmail and Outlook have achieved significant success, catering to distinct user preferences. Similarly, in the streaming movie industry, platforms like Netflix and Disney+ coexist and compete for viewers.

Siemer's insights provide a balanced perspective on the factors influencing Solana's performance and the broader trends unfolding in the cryptocurrency market. As the industry continues to innovate and expand, it will be interesting to observe which platforms emerge as dominant players in their respective domains.