During the day this Tuesday, the price of the native Solana token (SOL) reached very close to $250 per unit. With this, the coin reached 3-year highs and everything indicates that it will soon establish new all-time highs. It should be noted that the ATH of this crypto dates back to November 2021, when it reached $259.95.
Now, the price is approaching that point again, but in the midst of a radically different context. The 2021 rally was loaded with predominantly speculative components. Although speculation now also has enormous weight, there are much more organic factors. One of them is the rise of the Solana network as one of the big players in the DeFi world.
In terms of trade volume, this Blockchain experiences a growth of more than 80% within a period of 30 days. The latter can serve to get an idea of the popularity of this blockchain. The rise of the memecoin market is one of the big drivers of this Solana network activity. On the other hand, it is highlighted that the SOL token demonstrated strength by surviving the winter of 2022.
The context of crypto regulation within the United States becomes the other factor with an expected major impact. Thus, developers and users could have Solana among their favorites amid strong widespread adoption in the crypto market.
Year-on-year performance of Solana’s SOL token. Source: CoinMarketCap
Solana Price Set to Continue Ascent
At the time of writing, the price of Solana (SOL) is $237, ebbing slightly after settling just below $250. Despite this correction, the exchange value of the token is expected to have no problem setting new highs. The big question now is what will be the ceiling of this currency.
For some analysts, the spirit shown by traders and the market in general is one of great optimism. This suggests that $400 or $500 per coin seems like a reasonable limit for 2025. However, it cannot be said with complete certainty that this will be the case for the price of the native Solana token.
The truth of the matter is that the currency’s momentum is one of the best within the top 10 most important currencies in the world. In fact, within a month it experiences a return of almost +50% against USDT. Likewise, against Bitcoin it marks +9% and against its direct rival, the Ethereum token, ETH, it shows +27.37%.
According to the CoinCodex Market Sentiment Index, bullish expectations are at 88%. Meanwhile, the Fear and Greed index reads 83/100, which points to extreme greed, that is, bullish assumption on the part of investors. In general terms, the SOL token is emerging as one of those that will have the greatest growth in the coming months.
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