The native and homonymous token of the Solana blockchain skyrocketed above 10% in the last day and rebounded to US$61.4, very close to the annual highs set on November 16 at US$67.99.
VanEck predicted that solana could reach $3,200 in 2030
Top 10 cryptocurrencies of the market operate disparately this Wednesday, November 29. He Bitcoin It is traded at US$37,800, close to US$38,000 while Ethereum exceeds US$2,000. The day, however, stands out for the strong rise in Solana, exceeding 7% and leading the gains of the last week with more than 10%. Why does the altcoin?
The native and eponymous token of the blockchain Solarium It shoots up above 10% in the last day and has rebounded to US$61.4, very close to the annual highs set on November 16 at US$67.99.
The truth is that Solana’s performance has been stellar in the last month, since it has practically managed to double the value with which it began November (+90%). Furthermore, in the accumulated of the year, SOL has achieved sixfold its value, since 2023 started around $9 (+517%).
The market analysts They do not seem to be clear about the catalyst that has driven these increases, although they point out that the general optimism of the market, the good performance of the token so far this year and the latest comments from the Federal Reserve (Fed) could have boosted a bullish case in SOL.
Solana brand.jpg
SOL: is it worth buying?
At the beginning of the month, VanEck He predicted that Solana could reach US$3,200 in 2030 if it were able to reach certain milestones. According to a research report from the asset management giant, Solana could rally 10,000% in the coming years if it manages to attract 100 million users to its ecosystem.
The asset manager also assumes that SOL monetizes at just 20% of the absorption rate of Ethereum (ETH) and achieves less than half of ETH’s market shares due to a fundamental difference in community philosophy. In fact, the projected price for ETH in the same period is around $11,800.
Likewise, these experts highlight that the usability of the Solana ecosystem can be a critical factor for the blockchain to host a ‘killer app’ in the future. While the user base of most blockchains remains relatively small compared to conventional platforms Like Facebook and PayPal, Solana aims to bridge this gap by offering a more efficient and user-friendly experience.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
