Solana price surges 50% after recovering from a crypto crash.
Solana’s ecosystem growth (TVL up 225%) fuels bullish predictions.
Analysts predict Solana can achieve a potential 100x rally.
Solana (SOL) is on a tear, hitting all the green ticks of a top-performing altcoin with its remarkable surge. The altcoin’s performance since Q3 2024 has been impressive, with notable rallies at intervals and quick recoveries during crypto market pullbacks. SOL has rallied nearly 50% this week following its recovery move from a recent crypto market crash.
The scalability-focused blockchain’s native token bounced off a $110 low on Monday to reach $163.70 by Thursday evening, making it one of the best-performing cryptocurrencies among the top 10 crypto assets by market capitalization.
The influx of cryptocurrency solutions into the Solana ecosystem has contributed to this growth, pushing the blockchain’s total value locked (TVL) from $1.533 billion in January to $4.972 billion at the time of writing, based on data from DefiLlama. Hence, several analysts are observing the Solana blockchain activities and their potential impact on the native token’s price. Bullish predictions are resurfacing, with some analysts asking if Solana is ready for a 100x rally.
Meanwhile, the decentralized solutions running within Solana’s ecosystem reflect impressive results and contribute to the blockchain’s overall growth. A recent Coin Edition report highlighted some highly performing Solana-based crypto solutions, including POPCAT, MUMU, WIF, MEW, and BOME.
According to the report, POPCAT surged 140% in two, during which MUMU rallied 162%. The other blockchain tokens also returned significant profits, reflecting the adoption trend visible across solutions within the Solana ecosystem. Meanwhile, the impact of these performances has a cumulative effect on SOL. Hence, the crypto token’s bullish reflection over the past months.
SOL traded for $158.66 at the time of writing, reflecting a 655% rally in the past year, per TradingView’s data. With an increasing adoption rate, supported by the blockchain’s scalability and appeal to developers, many analysts expect SOL’s price to rally. If the predictions are accurate, Solana could become the flagship crypto of the next bull cycle.
The post Solana Outperforms Market, Analysts Eye 100x Potential appeared first on Coin Edition.
