- Solana’s transition to its final version and network improvements sparks price speculation.
- Experts project SOL to trade between $300 and $1000.
On April 15th, Solana deployed a patch to alleviate congestion issues within its network, aligning with its expected mainnet move from the “beta” phase to its final version. Moreover, the upcoming release of the Agave validator client (v2.0), scheduled for around July 1st, seeks to enhance the network’s capabilities further.
When quizzed about the transition from the beta phase, Co-founder Anatoly Yakavenko answered via an X post,
“You all can stop calling it beta anytime, you know. I think the right time to do it is when a Firedancer full node is running on mainnet. Then all the single points of failure have been removed.”
You all can stop calling it beta anytime you know. I think the right time to do it is when a firedancer full node is running on mainnet. Then all the single points of failure have been removed
— toly 🇺🇸 (@aeyakovenko) April 14, 2024
Solana Ecosystems’ recent surge in meme activity has significantly influenced SOL’s price, prompting speculation about its future performance. Following a dip over the weekend, Solana-based dogwifhat (WIF) led the rally by 31% on April 14th.
Optimism Surrounds Solana’s Recovery: Expert Perspectives and Price Projections
Solana’s recovery has sparked optimism among investors, with many anticipating a potential repeat scenario where meme coins could further benefit, potentially spilling over to support SOL’s value. BitMEX founder Arthur Hayes expressed bullish sentiment toward Solana following its rebound from the weekend crash. “That was the dip. Now we rip. What are we buying on the rebound, fam?” he shared via an X post.
That was the dip. Now we rip.
What are we buying on the rebound fam? pic.twitter.com/4NKPytU5d4
— Arthur Hayes (@CryptoHayes) April 14, 2024
Hayes’ optimism was echoed by popular crypto trader Ansem, who projected a price target of $1000 per SOL by the end of the current bull cycle. He indicated strong confidence in the cryptocurrency’s potential for growth, saying, “Fairly confident you will not need another trade for the rest of the cycle if you can hold on to this one.”
fairly confident you will not need another trade for the rest of the cycle if you can hold on to this one
afterwards probably can roll this into monad depending on when their mainnet launches https://t.co/XRKqARkzXt
— Ansem 🐂🀄️ (@blknoiz06) April 13, 2024
However, Mike Novogratz of Galaxy Digital offered a more conservative perspective, suggesting that SOL could reach significant price levels, such as $300, $400, or even $500. However, Novogratz believes achieving these targets would require favorable market conditions and various factors to align positively.
SOL trades at $129, reflecting a 23% decrease over the past week. However, analysts point to $130 as a crucial support level for bulls aiming to drive further gains in the short term.
