Solana Price on Track to Hit New Peaks
Since January, Solana’s price has kept climbing, marking it’s highest level so far this year. This rapid growth might soon help the currency hit an all-time high, as suggested by Polymarket users’ predictions.
Over six days, Solana surged to $240, marking a hefty 150% gain from its lowest point in 2023. Its market value ballooned to over $126 billion. Experts suggest that its rise could continue.
A Polymarket poll involving over $800,000 in assets projects a 57% chance of Solana hitting an all-time high this year.This optimism has steadily grown since June.
- The imminent deadline for approving vessel SPOT ETFs plays a crucial role. ETF approval likelihood surged to over 90%, potentially drawing large inflows from various U.S. investors.
- Upcoming network upgrades hold promise too. The Alpenglow update aims to boost transaction capacity past 107,000 per second, propelling solana’s adoption.
- Federal Reserve rate cuts also encourage risk-taking among investors, further boosting Solana’s prospects.
The daily chart reveals Solana’s firm upward trend. The price soared from $95 to $240, backed by strong momentum indicators. If trends persist, Solana could exceed its all-time high of $295, possibly heading towards $300.
