The opening of this year has helped a few known cryptocurrencies to add a significant surge to their trading prices. At the time of writing Solana was trading at $208.68 with an addition of 8.84 percent in the past 24 hours at the same time its prices grew around 10 percent in the past seven days.
Until publishing the market capitalization of Solana was $100.54 billion with an addition of 8.71 percent and the intraday trading volume of $3.81 billion, a spike of 29 percent in volume.
Source: CoinMarketCap
According to the data available on CoinMarketCap the highest recorded trading price of Solana was $246.42, raising speculations that in the next few sessions, it might break the all-time high of $263.83 recorded on November 23, 2024.
Till the article was live Solana prices were trading above 20,50,100 and 200 days exponential moving average, with a bull pressure observed in the past few time frames.
Solana to acquire $300 by March 2025!
Solana’s price has been steadily declining since late November, falling from $264 to the current $226, or 14%. A bullish flag pattern has formed, nonetheless, as this downturn has stayed contained between two convergent trendlines.
Source: CoinMarketCap (1 year time frame)
According to this chart structure, the continuous pullback is an essential phase in reviving the bullish momentum. If the pattern’s upper trendline is not broken, SOL’s price may go through a protracted corrective phase, which would postpone its breakout toward $300.
A number of variables might affect Solana’s cost and fuel future expansion. Usage and adoption are important factors. Solana’s ecosystem has been developing fast, with new projects and apps being created on the platform.
Price increases for SOL might result from increased uptake and usage. Furthermore, Solana is a desirable choice for developers and users due to its quick transaction times and affordable fees.
There is intense competition for Solana in the market as well. Rivals for market share include Ethereum, Binance Smart Chain, and Polkadot, among other smart contract platforms.
Laws or regulations pertaining to cryptocurrencies may also have an effect on Solana’s price. Additionally, market sentiment may change quickly, and cryptocurrency markets are notoriously volatile.
Crypto market capitalization to hit $4 trillion soon!
The crypto market capitalization is indeed nearing the $4 trillion mark, with current estimates suggesting it has already surpassed $3.50 trillion.
This significant growth can be attributed to the optimism surrounding Donald Trump’s election, which is expected to lead to friendlier U.S. regulations and, in turn, drive up demand for cryptocurrencies like Bitcoin and Ethereum.
Although it’s hard to say for sure when the cryptocurrency market will reach $4 trillion, the present trend indicates it may happen soon. By the end of 2025, Bitcoin may possibly hit $200k, according to some estimates.
