HomeNewsCan Solana (SOL) Reach New Heights? Analysts Eye 230% Surge by May

Can Solana (SOL) Reach New Heights? Analysts Eye 230% Surge by May

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  • Solana is the season’s “trending” coin due to its 40% price increase in a month and ecosystem expansion.
  • SOL’s price could grow to $620 due to April’s Bitcoin halving and Solana’s token releases.

Solana (SOL) has become the season’s “trending” coin because of its strong price performance. As a result of Bitcoin’s growth, Solana’s ecosystem development and presale initiatives have distinguished it in the altcoin market.

SOL’s Stellar Market Performance

Solana’s native token, SOL, has risen 40% in value over the past month to $188.48, according to CoinMarketcap. In the last 24 hours, the coin has gained 2%, demonstrating its market existence.

Solana may dominate the crypto market after the Bitcoin halving, which has caused price volatility across the industry. Halving incidents have boosted Bitcoin’s value and shifted investor opinion toward altcoins like Solana, echoing earlier coverage by ETHNews.

April: Solana’s Milestone Month

The Bitcoin halving on April 21 is expected to cause instability before a rush to new highs. This event is expected to boost top altcoins like Solana. Solana’s price is expected to rise 99% by April 22 and 230% on May 2, bringing it to $620, according to crypto analytics services like CoinCodex.

Another well-respected cryptocurrency analytics firm, Changelly, forecasts that SOL will increase by 121% by the 22nd of April and then settle at $421. For the month of April 2024, the platform forecasts that the SOL rate will average $412.18, with peaks reaching $634.89 and dips reaching $189.46.

Meanwhile, the SOL price has begun to recover by 0.20% and 2.32% over the last 24 hours and 7 days, climbing to $187.3.

April is crucial for Solana due to its price potential and the blockchain’s active token issuance plan. The April airdrop token releases will energize Solana’s ecosystem, ensuring a promising future for the blockchain and its community.

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Syofri is an active forex and crypto trader who has been diligently writing the latest news related to the digital asset sector for the past six years. He enjoys maintaining a balance between investing, playing music, and observing how the world evolves. Business Email: info@ethnews.com Phone: +49 160 92211628