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Cryptocurrency News Articles
Solana (SOL) to See 5x Growth by Final Quarter of 2025, per Analyst
Sep 30, 2024 at 10:00 am
The price of Solana, the world's fourth-largest cryptocurrency by market capitalization, has jumped over the weekend to reach a new price of nearly $160
The world’s fourth-largest cryptocurrency by market capitalization, Solana, has seen its price surge over the weekend to reach a new price of nearly $160 a token, data from CoinGecko shows.
Solana’s price history over the past month has seen an upward growth trajectory. The cryptocurrency has traded sideways around the $150 price point for more than 220 consecutive days, prompting some analysts to predict that the token could witness a 5x growth ahead of the last quarter of 2025.
“The size of this economy could propel it 5x before Q4 2025 and the yields on native Solana DeFi are the highest based on its insane user count and volumes,” one crypto analyst noted. “This project has the best chance of delivering the second internet.”
At the end of last year, Solana was posting price performance that was 75% higher than November 2022, with overall total gains of 776% since January 2023.
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Last December, Solana was even touted as “crypto’s next big thing” after it reached a valuation of $38 billion. Recently, the cryptocurrency has seen its value increase amid technological upgrades to its popular blockchain network, which now offers faster transaction speeds and lower costs than its competitors.
The blockchain network is also experimenting with the possibility of making the blockchain network more efficient by adjusting its default compute budget, but some Solana developers are pushing back against the idea.
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