đ„Solana Price Prediction: BNB Left Behind, SOL Eyes $1000 Target
đ SOL Price Surge
Solana (SOL) has risen over 4% in the past 24 hours, reaching $191.72. The platform, with nearly $6 billion in TVL, is attracting both institutional investors and retail traders.
đ Why Solana Shines
Solana offers faster transactions and lower costs compared to Ethereum. Its ecosystem, including Raydium DEX, is booming with nearly $10 billion in meme coin market cap. Solana's market cap now surpasses Binance Coin (BNB), hitting $89 billion.
đĄ Path to $1000
Many Solana holders believe SOL could reach $1000 soon. Technically, Solana has broken out of a daily falling trend, indicating potential growth. Watch for a consistent close above $202 before aiming for $1000.
đ Key Indicators
Solana's price is tied to Bitcoin dominance trends. The start of "altseason" after a Bitcoin dominance reversal could boost altcoin prices. Currently, Solana is ranging between $120 and $202.
đź Future Prospects
The Solana ecosystem is gaining traction, especially with U.S.-based spot Ether ETFs launching. A spot Solana ETF might be approved, especially if Donald Trump wins the upcoming presidential election. However, Solana faces competition from other layer-one chains like Ethereum, Tron, BSC, and Toncoin.
