Solana Prediction: Will the SOL price rise to $1,300 now?
- After a summer drought, Solana has recently returned to dynamic price performance. The SOL price currently stands at $243, representing a 20 percent increase over the previous week. Among the top 10 coins in the crypto market, only Dogecoin performed better.
- This bullish trend is driven by a combination of strong fundamentals and growing interest from institutional investors. Current data shows that 17 Solana treasury firms now hold over 10 million SOL, valued at approximately $2.4 billion.
- Just recently, Galaxy Digital alone acquired nearly 5 million SOL, valued at over 1.2 billion. The purchase is linked to Forward Industries, which aims to become the leading Solana strategy firm, following the example of Strategy for Bitcoin.
- Crypto investors are also eagerly awaiting the timely approval of Solana Spot ETFs. Although some applications have recently been postponed by the U.S. Securities and Exchange Commission (SEC), the probability of a trading launch in 2025 is over 99 percent, according to the decentralized betting platform Polymarket.
- Both spot ETFs and treasury firms could drive further billions in inflows into Solana in the coming weeks and months. Matt Hougan, Chief Investment Officer at Bitwise, therefore expects a “spectacular end-of-year spurt.”
- Crypto chart analyst Ali Martinez is even more optimistic, pointing to a so-called “cup and handle” pattern on Solana, which has indicated strong breakouts in the past.
- If the momentum continues, he believes SOL could rise to more than $1,300, which would be more than five times its current level.
- Nevertheless, the Solana blockchain has recently come under repeated criticism. One crypto developer pointed to a “fake it till you make it” approach, arguing that Solana's transaction volume was significantly inflated by bot activity. The ecosystem's scalability, he argued, could therefore not be proven with the transactions-per-second data.
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Sources
- Solana forecast by Ali Martinez I X-Post
- SOL ETF quotes I Polymarket