Look! ! ! Something big has happened! ! !
Look! ! ! Something big has happened! ! !
Solana’s value could soar 47 times
Prominent financial analysts have expressed strong optimism about the prospects of Solana (SOL), predicting that its price could soar 47-fold from its previous trough.
Currently, Solana is trading at $174, having surged over 600% year-to-date. Its price has increased by 5.1% in the past 24 hours alone and by 0.8% over the week.
Raoul Pal, CEO of Real Vision and Global Macro Investor, is confident in Solana’s potential. He predicted that the price of SOL will climb to the range of $750 to $1,000. Pal attributes this growth primarily to Solana's solid position and its significant technology advancements, such as its "Fire Dancer" scalability solution.
He firmly believes that Solana has demonstrated robustness comparable to Bitcoin and Ethereum in the volatile cryptocurrency market.
Pal compares the current Solana to Ethereum, which was in a bull run in 2020, and believes that Solana has the potential to follow a similar growth trajectory, resulting in a significant price increase. In addition, he also specifically mentioned the importance of non-fungible tokens (NFT) in the Solana market, emphasizing the platform’s advantages in efficient NFT creation, and optimistic about its huge potential in future NFT application innovation.
Market data also appears to support Pal's optimistic forecast. Solana’s open interest, a measure of futures market activity, rose 7.69% to $2.62 billion, while trading volume also increased 20%.
What’s more worth mentioning is that in the past month, Solana’s number of active addresses has jumped from less than 800,000 to more than 1 million, clearly reflecting a significant increase in user engagement and adoption. Nonetheless, even though Solana’s number of active addresses has exceeded that of Ethereum, its future market performance still faces many challenges and uncertainties.
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