Solana adds $6 billion to its market cap in a month as it targets $50

Following a great month of October, which saw Solana’s (SOL) market cap skyrocket over 62%, adding billions to its total worth, the asset has once again recaptured the attention of cryptocurrency investors.

In fact, in the last 30 days, SOL climbed from $9.88 billion on October 2 to over $16.4 billion on November 1, adding over $6 billion to its value, as per the latest information taken by Finbold from CoinMarketCap at the start of November.

These results have made up 2% of all discussions regarding the top 100 crypto assets of this highly-performing currency.

“Solana, which has now returned to the #7 spot on market cap rankings, has now seen its value rise +62% in a great month of October. Notably, nearly 2% of all discussions related to top 100 assets are related to SOL, & rising volume would be bullish,” according to the information published on crypto analytics platform Santiment in an X post on November 1.

With the rise of the trading volume and market cap, investors are taking note, which can be seen through rising interest levels and optimism.

Can Solana reach $50 price value?

Solana is currently trading at $39.45 at the time of press. The increase of 7.49% in the last 24 hours aims to continue on an already impressive trend of 24.64% in 7 days.

With the indicators that are all looking positive and the $40 price valuation in the books, a new milestone arises, a one of $50 value.

Considering that SOL’s value has almost doubled in the previous month, this new milestone doesn’t seem far-fetched and unobtainable, and we may see this crypto asset reaching it sooner rather than later.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.