In one week, inflows into Solana exceeded $4 billion. Can SOL reach $200?
Increased interest in it has led to Solana's market capitalization reaching $43.7 billion, which is significantly more than the $38.1 billion recorded as of January 22.
After the success of the first Solana smartphone, the blockchain project team announced the release of the second, and demand for it is already growing. In particular, pre-orders for the device almost reached 30,000 within an hour.
Against the backdrop of increased activity, the number of Solana addresses is also increasing - in January 2024, at least 10 million new addresses were registered on the network, most of which are associated with the activity of meme coins.
Table of the number of new SOL addresses. Source: IntheBlock
On the evening of January 29, SOL was trading at $100.73, up an impressive 17% weekly.
Seven-day SOL price chart. Source: CoinGecko
Crypto trader Jelle suggests that investors should expect an extended rally in SOL, during which the token could reach $200.
SOL price chart. Source: TradingView
