Solana continues to be the top-performing large-cap cryptocurrency this bull cycle, living up to its “Ethereum Killer” brand.
The Solana price is up by 10% over the past week and 130% year-to-date. On the contrary, Ethereum is down by 6% in the past 7 days and is up by only 36% since the start of the calendar year.
With Bitcoin hitting a new all-time high of $94,000 on Wednesday, SOL appears to be next in line. Notably, smart money investors are betting heavily on SOL proxies, including Solana meme coins like Slothana and undervalued stock assets like Sol Strategies.
Is It Too Late To Buy Solana?
After trading as low as $8 in the aftermath of the FTX crash, Solana has seen a remarkable resurgence in 2023 and 2024. It is currently trading at $240 at press time, up 30x from the post-FTX bottom of $8.
All indications point towards a bullish continuation for SOL in 2025, with a growing consensus that it could peak near the $1000 mark in this bull cycle, especially if it continues to bounce from the 10-month Simple Moving Average.
It also appears a good time for swing traders and sidelined investors to ape into SOL, considering that it is breaking out of a 7-month bullish pennant.
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