- Solana has had a turbulent week. The SOL course fell 14.64% and is therefore 56.8% below his ATH.
- Nevertheless, CoinCodex remains optimistic about Solana’s future and assumes that Sol could achieve a maximum of $ 500 in 2025.
As of March 13, Solana (Sol) holds his position as the sixth largest cryptocurrency after market capitalization with a value of $ 64 billion. Currently traded at $ 126.11, Sol has shown a strong relaxation, but remains almost 60 % below his ATH of $ 295.40, which was reached in January of this year.
Laut CoinCodex Could increase the price of Solana to $ 288 by the end of the year, which corresponds to an impressive increase of 270 % compared to the current level. However, the long -awaited target of $ 500 remains a longer -term projection, with estimates that this goal set in closer to 2029. More conservative forecasts assume that Sol could reach about $ 300, provided that it is possible to overcome the important resistance brands at $ 130 and $ 140. In order to be able to assess the feasibility of these goals, we should examine the most important factors that influence the course of Solana.
1. Developments in regulation
Since Donald Trump is back in office as a crypto -friendly president, the prospects for the industry seem to be cheap. Previously, Solana was one of the digital assets that Trump for admission to the US-Kryptoreserve considerednext to Ripple (XRP), Ethereum (ETH), Cardano (ADA) and Bitcoin (BTC). However, the government later limited its selection to tokens that were confiscated by enforcement measures.
An important development that needs to be observed is the nomination of Paul S. Atkins for the chairmanship of the US Securities and Stock Exchange Supervisory Authority (SEC) by President Donald Trump. Atkins, which is known for reducing regulatory stress and promoting financial innovations, must still be confirmed by the Senate.
In the meantime, the incumbent SEC chairman Mark Uyeda has one special working group Under the direction of Sec-Commissioner Hester Peircelaunched that should clarify which digital assets are considered securities and which do not fall into the responsibility of the Sec. This step aims to create the urgently needed regulatory clarity, which Solana and the wider crypto market could benefit from
2. Competition through other blockchains
Ethereum, the greatest competitor of Solana, has made great progress with his Dencun upgrade in March 2024, which improved and reduced the fees. Over and beyond target the planned for this year Pectra-Upgrade to further optimize the scalability, transaction efficiency and security of Ethereum. These progress is a challenge for Solana, because it must be innovative and stand out from the competition to keep its market share.
In response to this, Solana actively further developed his network. The proposal for upgrading SIMD-228 recently reached the quorum with 71.85 % of the votes. This proposal aims to reduce Solana’s inflation rate by 80 %, which SOL could make a more attractive asset through a lower token dilution and increase its long-term value.
3. Market acceptance and institutional interest
The institutional interest in cryptocurrencies has grown quickly, and it is expected that the exchange-traded crypto funds (ETFs) will overtake the precious metal ETFs by the end of the year. In June 2024, 21shares submitted an S-1 application for a Spot Solana ETF in the USA, only one day after Vaneck had made a similar application. However, the US stock exchange supervisory authority SEC (Securities and Exchange Commission) has not confirmed any of the two applications at this time.
The Chicago Board Options Exchange (CBOE) has recently applied for the listing of a Solana ETF on behalf of Franklin Templeton and thus joined other major asset managers such as Grayscale, Bitwise and Canary Capital, which have also submitted applications for Solana-based investment instruments.
If a Solana ETF is approved, it could significantly increase the SOL price because it becomes easier to access institutional and private investors. Like in our previous reportingexplained, hat die SEChowever Your decision about several crypto ETFs, including those bound to XRP, Solana, Litecoin and Dogecoin, delayed, which signals a continued regulatory uncertainty. Nevertheless, the increasing number of institutional actors who want to get involved in Solana reflects the growing trust in the long -term potential of the fund
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