{"id":74520,"date":"2023-10-19T15:51:51","date_gmt":"2023-10-19T19:51:51","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/solana-price-prediction-as-sol-overtakes-cardano-as-popular-trader-says-huge-rally-is-coming-time-to-buy\/"},"modified":"2023-10-19T15:51:57","modified_gmt":"2023-10-19T19:51:57","slug":"solana-price-prediction-as-sol-overtakes-cardano-as-popular-trader-says-huge-rally-is-coming-time-to-buy","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=74520","title":{"rendered":"Solana Price Prediction as SOL Overtakes Cardano as Popular Trader Says Huge Rally is Coming \u2013 Time to Buy?"},"content":{"rendered":"
\n

Solana (SOL) is the second-best performing cryptocurrency in the top 100 by market capitalization on Thursday, having gained an impressive more than 7% on the session to hit its highest level since July above $25.<\/p>\n

The cryptocurrency\u2019s latest pump, which has seen it rally over 45% from its September lows under $17.50, has seen it reclaim a market cap of more than $10 billion.<\/p>\n

In the process, SOL, the cryptocurrency that powers the high-performance smart-contract-enabled layer-1 Solana blockchain, has overtaken the market caps of rivals Dogecoin (DOGE) and Cardano (ADA) to rank as the seventh largest cryptocurrency by market cap.<\/p>\n

The cryptocurrency collapsed to as low as $8 per token, marking a more than 95% pullback from its all-time high price around $260 back in 2021 at the time following the collapse of ill-fated crypto exchange FTX.<\/p>\n

Ex-FTX CEO Sam Bankman-Fried had been a major advocate for Solana, and his now failed hedge fund Alameda had been a major liquidity provider within Solana\u2019s Decentralized Finance (DeFi) ecosystem, hence the spectacular loss of confidence in the cryptocurrency following FTX\u2019s demise.<\/p>\n

But Solana has made a miraculous comeback in 2023.<\/p>\n

Not only is its price (last just above $25) up over 200% from last year\u2019s lows, but its ecosystem has seen an impressive rebound in liquidity this year.<\/p>\n

As per DeFi Llama, the total value of crypto locked in Solana-based smart contracts remains in an uptrend and, at $1.1 billion, has more than doubled since the start of the year.<\/p>\n

Price Prediction \u2013 Where Next for Solana (SOL)?<\/strong><\/h2>\n

The latest bounce in Solana likely has more to do with optimism about upcoming spot Bitcoin ETFs than is does to do with any Solana-specific catalysts.<\/p>\n

With Solana\u2019s 2023 uptrend still strongly intact, if the cryptocurrency can break above resistance in the $24-25 area on a sustained basis, the door should be open for a fast run higher towards a yearly high above $32.<\/p>\n

That could mean quick and easy gains in the region of 27%.<\/p>\n

Time to Buy SOL?<\/strong><\/h2>\n

Solana\u2019s strong bounce from its 200DMA earlier this month suggest it\u2019s the bulls strongly retain an upper hand.<\/p>\n

And amid lots of reasons to be optimistic about Solana\u2019s long-term adoption prospects, analysts are getting more bullish on the cryptocurrency.<\/p>\n

In a recent video by anonymous YouTube channel InvestAnswers, the host told his 447,000 viewers that he \u201csees a number of different tailwinds for Solana\u201d, before listing Solana Pay, which was recently integrated into Shopify and the newly launched Solana phone called Saga and its associated decentralized app store.<\/p>\n

InvestAnswers also noted Solana\u2019s cost efficiency, scalability, great tokenomics and its recent Visa partnership as other reasons why it is positioned to perform well in the coming years.<\/p>\n

For these reasons, popular crypto analyst and trader DCA Crypto predicted in a video released on Thursday that Solana (SOL) will break its all-time highs at $250-260 and potentially even get as high as $400 in the upcoming bull market.<\/p>\n

<\/oembed><\/figure>\n

That would mark gains of as much as 16x versus Solana\u2019s current price at just over $25.<\/p>\n

If DCA Crypto is correct, now would be a great time to buy SOL.<\/p>\n

DCA Crypto noted that he plans to take a substantial amount of profit ahead of the $250-400 zone being hit, however, to ensure that he is in profit.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Solana (SOL) is the second-best performing cryptocurrency in the top 100 by market capitalization on Thursday, having gained an impressive more than 7% on the session to hit its highest level since July above $25. The cryptocurrency\u2019s latest pump, which has seen it rally over 45% from its September lows under $17.50, has seen it […]<\/p>\n","protected":false},"author":1,"featured_media":74521,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-74520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nSolana Price Prediction as SOL Overtakes Cardano as Popular Trader Says Huge Rally is Coming \u2013 Time to Buy? | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Solana (SOL) is the second-best performing cryptocurrency in the top 100 by market capitalization on Thursday, having gained an impressive more than 7% on\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=74520\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Solana Price Prediction as SOL Overtakes Cardano as Popular Trader Says Huge Rally is Coming \u2013 Time to Buy? 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