Solana's SOL at Yearly High: A $100 Value by Christmas?

• Solana's Remarkable Growth in 2023
• SOL's Performance Outshines Major Cryptocurrencies
• Will Solana Reach $100 By Christmas?
• Other Predictions for Solana
• Telegaon's Outlook on Solana

Solana's Remarkable Growth in 2023

In the recent market bull run, Solana$104 5.03% (SOL) has noted impressive gains, marking an 8.3% increase in its daily charts and reaching a new annual peak of $75.87. The token has shown consistent upward trends with a 6.7% increase over the week, a 25.2% surge in the 14-day charts, and an overall monthly rise of 30.9%. Since December 2022, SOL has seen a substantial growth of 519.5%, and from January onwards, the asset has risen by an astounding 661.75%.

SOL's Performance Outshines Major Cryptocurrencies

In 2023, SOL's performance has surpassed other major crypto projects, including Bitcoin$42,260 -0.64% (BTC), which has seen a growth of about 160% since the beginning of the year. This impressive growth has been particularly noteworthy, especially considering that SOL was one of the most impacted projects following the downfall of FTX$3.28 -5.38%. Despite SOL's price plummeting to a low of $9.60 by the end of December 2022, it has made impressive recoveries since then.

Will Solana Reach $100 By Christmas?

Speculations have risen regarding Solana's potential to hit the $100 mark by Christmas 2023. According to predictions by crypto platform Changelly, the price of SOL is expected to stabilize around $75 until December 28, 2023. The platform forecasts a price of $75.24 on Christmas Day 2023, a figure close to current rates. However, it anticipates that SOL's price could potentially hit $80.69 by the close of the year on December 31, 2023.

Other Predictions for Solana

Other platforms have also provided their predictions on Solana's performance, including CoinCodex. While they do not expect SOL to reach $100 by Christmas, there is anticipation for a rally on Christmas Day. According to the firm's predictions, SOL could potentially rise to $78.98 on December 25, 2023, a growth of approximately 4.1% from current prices. Moreover, CoinCodex expects SOL to maintain this momentum into the early days of January 2024.

Telegaon's Outlook on Solana

Telegaon, on the other hand, predicts a maximum price of $101.14 for Solana in 2023. If SOL realizes this potential, it would mean a growth of roughly 33.3% from present levels. However, Telegaon has not specified the timeframe within which SOL might reach this target.

Edited by Jonathan Stoker