Weekend Watch: Solana (SOL) Aiming for the $100 Mark?

• Solana's Growth in DeFi, NFT, and Web3 Markets
• Recent Performance and Price Prediction of Solana
• Factors Influencing Solana's Price
• Solana's Price Predictions for Coming Weekend
• Potential for SOL to Reach $100

Solana's Growth in DeFi, NFT, and Web3 Markets

Since Solana$104 5.03%'s establishment in April 2019, it has witnessed significant progress in DeFi, NFT, and Web3 markets. A plethora of initiatives are in development on Solana's network, with more projected to surface in the near future. Solana's primary value proposition, as per its official website, is the provision of cost-effective transactions indefinitely. Competing directly with other blockchain networks like Ethereum$2,315 -2.42%, Solana has made a significant mark in the industry.

Recent Performance and Price Prediction of Solana

Solana recently reached the $70 price level. However, latest data indicates that SOL has experienced a decline of over 9% in the past day. With the entire cryptocurrency market witnessing a downturn, Solana's price predictions for the upcoming weekend are of certain interest.

Factors Influencing Solana's Price

Various components such as market dynamics, price movement, developments, supply, and use cases will dictate if SOL's value can increase over the weekend.

Solana's Price Predictions for Coming Weekend

Based on Changelly's cryptocurrency experts' analysis of SOL's performance at the beginning of 2023, predictions for Solana's price for the weekend have been made. The forecasted minimum price for SOL during this period is $64.48, while it may potentially reach a maximum of $77.45. Moreover, they anticipate that SOL will be trading at an average price ranging between $68 to $72 over the weekend. Experts from Changelly predict that the Solana price will likely bounce back to $70 in December.

Potential for SOL to Reach $100

Changelly's data suggests that it is improbable for SOL to hit the $100 mark this weekend or even in December. Based on their analysis, the likelihood of SOL reaching $100 is anticipated in March 2025. According to the most recent data from CoinMarketCap, Solana is presently trading at $64.99, having experienced a 9% value decrease over the past 24 hours. SOL has seen a drop from its 24-hour high of $71 to its present value.

Edited by Jonathan Stoker