Solana (SOL) is undoubtedly one of the most exciting crypto projects in 2023. Despite all odds, Solana has been impressive this year and will likely conclude the year remarkably.
SOL’s selling price at the time of drafting this report is $69.91. It is currently ranked the sixth largest cryptocurrency, with a market cap of $29,892,713,637 and a trading volume of $1,759,868,491.
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The statistics above corroborate the initial assertion in this insight on SOL’s remarkable market activities this year.
Aside from the coin’s market variables, most crypto analysts remain highly bullish about the token’s future price movements.
Solana (SOL) Future Price Trajectory Based Experts Assertions
Arthur Hayes, the co-founder of BitMEX exchange, predicted an imminent bull season for altcoins. According to Hayes, the rally would be championed by the potential of Solana (SOL) to break above the $100 price level.
Notably, the last time SOL touched the $100 price mark was in April 2022, and this might seem a long time ago. However, should present market actions persevere, revisiting $100 soon will become a certainty for the cryptocurrency.
Meanwhile, InvestAnswers, another renowned cryptocurrency price prediction expert, noted that there are chances Solana could capture some specified Ethereum’s market cap value in the next bull run.
InvestAnswers claimed that should SOL capture 10% of the Ethereum (ETH) market cap, its price could skyrocket to a $231 price high. If it reaches 20% of Ethereum’s market cap, then a $453 price target becomes attainable for SOL.
The Outrageous Solana (SOL) Price Prediction
Other experts have been even more optimistic, suggesting that Solana (SOL) could be on the verge of hitting a new all-time high price.
The X user Crypto King believes that SOL might reach $300 in the long run, whereas Canfield predicted a $1,000 Solana price. Canfield also advised people to diversify and invest in both Ethereum and Solana. He wrote:
“No reason not to have allocations to both. It’s like trying to bet on Microsoft or Google. Tesla or Ford. Just buy both.”
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Read Also: Analyst Who Accurately Called 2018 Bitcoin Bottom Says Solana (SOL) Massive Surge Is Coming
Why Solana (SOL) Has Been Impressive Throughout The Year?
According to the price chart on CoinCodex, a renowned crypto assets tracking outlet, Solana (SOL) traded at $9.93 in January 2023.
Intriguingly, between January and September, SOL rose dramatically to trade between $20 and $30, attaining a maximum price of $28.51 in July. Notably, after reaching the $28.51 price in July, the crypto asset declined to $19 in September.
October marked the beginning of remarkable price actions for SOL as it broke through $30 and has never revisited the lower price levels ever since. Rather, it formed an upward trajectory that saw it attain a $75.30 price level in December; barring any significant increment, this $75.30 will go down in the history book as SOL 2023 high if not surpassed before the year ends.
Solana attained its ATH in November 2021, when it sold for $259.52. Current SOL’s price standings indicate that the token must spike by approximately 271.22% to reclaim its ATH. It is left to see what ensues in the future.
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