After AI Crypto Surge, Whales are Only Holding Solana and Algotech in 2024
The current crypto space has been disrupted by the movement of its major player, Bitcoin. After surpassing an all-time high, Bitcoin experienced increased selling pressures, causing major liquidation. This correction had a cascading effect on the entire community as it pulled back, with major altcoins retreating to a lower trading value.
Leading experts have joined the debate, with many signaling a bull run in the future following the Bitcoin halving event. As excitement for the prospective rally rises, market sentiment is shifting, dissipating the current concerns of the volatile market.
In light of the upcoming altcoin surge, analysts noted a change in market strategy, with many whales stockpiling Solana (SOL) and Algotech (ALGT).
Solana Price Projected To Hit $200 in 2024
Solana (SOL) has shown impressive growth over the last year, surging to over 670%. Ranking among the top 5 cryptocurrencies, its following has only grown stronger as 2024 progressed.
Once the aftermath of the Bitcoin dip hit the market, Solana's price faced a minor setback as it retreated to under $130 but made a swift turn and rose back to above $140.
Stealing the spotlight, SOL Token won the CoinMarketCap Crypto Award of the Year 2024, with figures showing a growth of over 40% in the last month. The SOL token is trading above $147 with a market cap of over $65 billion.
The Solana ecosystem has been thriving in the DeFi space with a TVL of over $3 billion and has been a beacon of hope for investors as it continues to evolve. It has gained interest from investors seeking substantial returns.
Leading analysts have projected a bullish sentiment following the upcoming Bitcoin halving, with many whales holding on to their SOL tokens in anticipation of it surpassing $200.
