Solana pumps 8% to hit all-time high of $263, aims to hit $300
Solana hits a new ATH with $300 in sight, while presales like Best Wallet and Pepe Unchained promise unique features and potential 100x gains.
Solana is on fire today – an 8.8% pump has catapulted to a new all-time high (ATH).
Is $300 next, or should investors chase other altcoins for the biggest gains?
ETF probes spark Solana rallyThe Solana breakout was fueled by rising interest in Solana ETFs.
Previously, the crypto spot ETF landscape was thought to be capped at Bitcoin and Ethereum.
However, Trump’s presidential victory – combined with Gary Gensler’s resignation announcement yesterday – has opened the doors for ETF issuers to launch more altcoin ETFs.
Less than 24 hours ago, news broke that VanEck and 21Shares had filed for Solana spot ETFs. This is the centerpiece driver in SOL’s recent rally.
SOL ATH with strong monthly candleSolana is on track for its strongest monthly candle ever.
Until now, the biggest monthly gain was $71 in August 2021. This month, Solana is trading $91 higher than its open, with under nine days until the close.
It’s showing immense strength, and the community couldn’t be happier.
Currently, SOL is trading close to its highest-ever price at $259. It peaked four hours ago at $263.SOL is up 8.8% today, 23% this week, and 56% this month.
It holds a $122 billion market cap and a $10 billion 24-hour trading volume, up 52% today.On that note, Solana is the third-largest cryptocurrency and is just $7 billion from flipping USDT to become a top three crypto alongside Bitcoin and Ethereum.
But it’s not done there.SOL primed for ATH breakout rally
It’s now trading in price discovery, and analysts expect the price to multiply in the coming months.
For instance, Kyle Reidhead says that SOL will reach between $500 and $1000 this cycle.While he doesn’t give a time frame, the recent breakout suggests that XRP will smash beyond the $300 mark and continue rising in the forthcoming weeks.
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