Holders of SOL must read this!!!
The native token of Solana, SOL, has always been a hot topic, skyrocketing 30% in a short period. Can the price stabilize above 200 dollars?
First of all, I bought SOL at 117 dollars and have made a coin-based investment. The main reason is that I am very optimistic about the future development of SOL. However, it has increased by 27% in just 3 days, reaching the 200-dollar mark. Trump has been elected, interest rates have been cut, and other favorable conditions have already landed. I do not recommend chasing the price now.
The recent price increase of SOL is mainly due to the surge of memecoins. The issuance of Pump.fun tokens and platforms like Raydium decentralized exchange (DEX) have gained significant boosts from the enthusiasm for memecoins. However, the broader development within the Solana ecosystem has pushed the price of SOL up to the high of 200 dollars.
Another reason is that SOL's TVL reached 6.64 billion dollars on November 7, an increase of 22% compared to last month. Liquid staking, perpetual futures, lending, and leverage have all seen significant increases. As long as the on-chain continues to maintain this stable and sustained growth, SOL's price is expected to reach 500 dollars in the long term.
