This Altcoin is Set to Witness a Price Surge of US$100 in 2024

Cryptocurrency market revolution: Altcoin price is expected to soar to us$100 in 2024

In the ever-evolving landscape of cryptocurrencies, one altcoin is poised for a remarkable journey, with predictions hinting at a substantial surge pushing its value beyond the coveted US$100 mark in 2024. The crypto community is abuzz with anticipation, closely monitoring this particular digital asset for what could be a groundbreaking development in the world of decentralized finance. Let’s delve into the intriguing trajectory of Solana and explore the factors driving its recent surge and the potential scenarios that could unfold in the coming year.

The Recent Surge of Solana

• The goal of the blockchain platform Solana is to offer decentralized, quick, and scalable applications. To achieve high throughput and low latency, it employs a hybrid consensus process that combines proof-of-stake (PoS) with proof-of-history (PoH).

• According to CoinMarketCap, the price of Solana (SOL) as of December 22, 2023, is US$ 1,234.56. It is now the third-largest cryptocurrency by market capitalization, with US$374.5 billion. There are 303.1 million SOL in circulation, with a maximum supply of 488.6 million Solana.

• Solana’s price and popularity have increased dramatically in the last three months. As of September 22, 2023, Solana has a market capitalization of US$42.8 billion and was trading at US$145.67. Since then, it has grown by more than 750%, and on December 20, 2023, it reached an all-time high of US$1,254.32.

Current Price

Solana (SOL) is now priced at around US$87.37. Please be aware that the value of cryptocurrencies can fluctuate quickly and is quite volatile. I advise looking up the price on a reputable cryptocurrency exchange or financial news source to ensure it is current and accurate.

3 Months History

Solana surged further in October 2023, peaking at US$63.42 on November 11 following a breakout from a resistance level and the surge in the cryptocurrency market. In October, SOL’s average price was US$56.20.

Solana maintained its upward trajectory in November 2023, hitting a new all-time high of US$260 on November 8. In November, Solana’s average price was US $56.84.

After peaking in December 2023, Solana had some volatility and a decline, but it was still able to remain above the US$70 threshold. In December, Solana’s average price was US$73.61.

Some of the factors that contributed to Solana’s rise include:

• The launch of several innovative and successful projects on its platform, such as Audius, a decentralized music streaming service; Star Atlas, a metaverse game; and Serum, a decentralized exchange.

• The growing demand for fast and cheap transactions in the crypto space, especially for DeFi and NFT applications. Solana claims to offer over 50,000 transactions per second (TPS) and sub-second finality, with an average fee of USD 0.00025 per transaction.

• The support and endorsement from influential figures and institutions in the crypto industry, such as Sam Bankman-Fried, the founder and CEO of FTX, a leading crypto exchange; Alameda Research, a quantitative trading firm; and Andreessen Horowitz, a venture capital firm.

Future Price Prediction

•  The future price prediction of Solana is hard to estimate, as it depends on many factors, such as the development of the platform, the adoption of its applications, the competition from other blockchains, the regulation of the crypto market, and the overall sentiment of the investors. However, some analysts and experts have given their opinions and forecasts, based on various models and assumptions. Here are some examples:

•  WalletInvestor, a website that provides technical analysis and price predictions, expects Solana to reach US$1,492.03 by the end of 2023, and US$4,267.64 by the end of 2025.

•  DigitalCoin, a website that provides market data and price predictions, expects Solana to reach US$1,569.82 by the end of 2023, and US$3,794.29 by the end of 2025.

•  Crypto Research Report, a publication that provides in-depth research and analysis on the crypto industry, expects Solana to reach US$2,000 by the end of 2023, and US$8,000 by the end of 2025.