Solana (SOL) has been one of many best-performing belongings because the final quarter of 2023 and up to now this 12 months. This constructive transfer has sparked dialogue in regards to the altcoin’s bullish potential and its probability of considerably surpassing its present all-time highs this cycle.
Nevertheless, some cryptocurrency fans nonetheless appear unconvinced by the potential for Solana’s worth to surge to new document highs. In response to a latest survey by CoinGecko, most buyers are betting that the SOL token will solely develop to $300 this cycle.
10% of crypto buyers anticipate SOL to hit $1,000: CoinGecko
Cryptocurrency knowledge aggregator CoinGecko present in its post-halving sentiment survey that cryptocurrency fans are considerably cautious about Solana’s future worth trajectory. The survey additionally centered on Bitcoin and Ethereum worth predictions and obtained responses from greater than 2,500 nameless contributors.
In response to CoinGecko’s survey outcomes, 24.9% of cryptocurrency contributors anticipate Solana’s worth to solely climb to $300 throughout the present cycle. As proven within the chart beneath, this seems to be the preferred altcoin worth prediction among the many crypto crowd. The $300 worth cap is simply 16% beneath the present all-time excessive of $259.
A chart exhibiting Solana worth prediction within the present cycle | Supply: CoinGecko
Moreover, the second hottest prediction was the $300 to $400 vary, predicted by roughly 14.7% of survey contributors. That is adopted by two forecast classes together with $400 – $500 (12.6% of respondents) and $500 – $600 (12% of respondents).
Notably, roughly 10.6% of survey contributors anticipate Solana’s worth to exceed $1,000 within the present cycle. The SOL token would wish to rise a minimum of 900% from the present worth level to achieve this worth goal.
Solana Value Overview
As of this writing, Solana is buying and selling at round $183, up 6.2% up to now 24 hours. This single-day efficiency places bulls again in management after a subdued week for cryptocurrencies.
Moreover, this 24-hour achieve solely highlights Solana’s spectacular efficiency over the previous two weeks. In response to knowledge from CoinGecko, the SOL token is up greater than 30% up to now 14 days.
📈 Solana made historical past at present, surpassing Binance Coin to maneuver into fourth place within the cryptocurrency area for the primary time in additional than 4 years of buying and selling. The 2 belongings are anticipated to be very shut, however SOL has been gaining momentum over the previous two weeks with +35% progress in comparison with +10% progress for BNB. pic.twitter.com/Y9R3Wv5mv1
— Santiment (@santimentfeed) July 26, 2024
Because of this constructive efficiency, Solana made historical past on Friday, July 26, briefly changing the BNB token because the fourth largest cryptocurrency by market capitalization, in accordance with a latest report from Santiment. Nevertheless, the altcoin has returned to fifth place within the cryptocurrency market capitalization rankings.
The worth of Solana faces rejection at $185 on the every day timeframe | Supply: SOLUSDT chart on TradingView
Featured picture through Getty, chart through TradingView
