Crypto News – Solana (SOL), a competitor of Ethereum Layer-1, has seen a sharp increase in price over the past month, logging gains of about 70%. As of the time of writing, Solana has a market value of $13.736 billion and is trading at $32.87, up 5.20% from the previous day.
Bullish Effect on SOL Price: Solana Could Hit as High as $50, Analysts Say
The price of Solana has also risen over its July 2023 mark, paving the way for a larger rally in the future. In the event that the SOL price closes over $32 on a daily basis, the upside targets would be $40 and even $50.
The Titan of Crypto, a well-known cryptocurrency expert, has provided information about Solana’s anticipated price ranges for the upcoming months in relation to this matter. SOL is expected to target a price range between $69 to $123, according to the extensive analysis conducted by the Titan of Crypto. The optimistic outlook for Solana’s performance going forward and its potential in the market is demonstrated by these forecasts.
New Integration in Solana may have Affected the SOL Price
The Solana price increase coincides with a robust surge in the cryptocurrency market within the past week. In addition, over the past month, the Ethereum rival has overtaken rivals like Cardano and Dogecoin to become the seventh-largest cryptocurrency by market capitalization due to its recent surge.
On the other hand, a new feature that allows MetaMask users to easily manage their Solana holdings within their existing MetaMask wallet has been revealed by popular Solana wallet provider Solflare. This integration lowers entrance barriers for the Solana ecosystem and improves user ease, making it a noteworthy advance in the cryptocurrency sector. This development may also be one of the factors influencing the price increase.
Leave a comment