Price Analysis

Solana Season On Upswing! Will SOL Price Hit $300 in This Rally?

news-image

Solana has reached another milestone, this time hitting a new all-time high of $172.35 just yesterday. After shattering the previous record worth $84.96 on August 27th, the ETH Killer has been steadily rising. SOL Price has been continuously soaring from one new high to another even before August 27th.

With a price of $146.37 last week, the altcoin surpassed Dogecoin to become the seventh most valuable cryptocurrency by market value. After a 218 percent gain in six weeks, SOL broke into the top ten coins by market capitalization last week. It is currently at #7. Since the beginning of the year, the price of SOL has increased by nearly 7,000 percent.

Following its magnificent rally, many analysts have made ultra bullish predictions for the coin. Some have even claimed for SOL to be arguably better than ETH and ADA.

Also Read: This is When Solana Will Enter the Top 5 List!

Analyst Kevin Svenson draws a comparison between SOL’s price action to ETH’s price action in 2017. By which means, SOL is still in for a huge pump.

Solana Bullish Predictions

Analyst George from CryptosRUs in a recent video says Solana is arguably better than Cardano and arguably even better than Ethereum. It is more scalable than other peers. Also, it has smart contracts which Cardano still doesn’t have. 

He predicts for the price to grow easily grow twofold. With SOL currently trading at the $170 level, $300 is predicted to be an achievable goal.

One-upping the prediction is analyst “smart contractor” on Twitter. He says, if SOL manages to follow BNB’s path, it can hit as high as $900.

Another bullish catalyst for Solana is the announcement of the move towards NFT’s, as well as its possible resumed DeFi growth. Overall, Solana is in for a massive run in this phase of the super bull run.

Show More

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Related Articles

Back to top button
Close
Close