Solana (SOL) has experienced an exceptional performance, providing investors with over 1000% returns and surpassing $125. At the time of writing, SOL trades around $97.88, with many experts believing the uptrend will continue in the coming months.
Analyst Ali predicts that if SOL breaks the $110 resistance, it could rally towards $163, citing a flag formation on the chart. Content creator JAKE praises Solana’s blockchain ecosystem for its speed and cost-efficiency over Ethereum, suggesting these advantages, along with recent strategic partnerships, could propel SOL to unprecedented highs within a year.
JAKE expects SOL to exceed $750 by 2025, as people shift from the Ethereum ecosystem to alternatives like Solana, potentially making it Ethereum’s biggest competitor during the next bull run.
Solana has briefly outperformed Ethereum in various metrics, including Google searches, although Ethereum regained its lead early in 2024. Analyst Alex Krüger avoids specific SOL price predictions but anticipates the launch of a Solana ETF in the US, possibly following a Republican presidential win in 2024 and a potential SEC Chairman Gary Gensler resignation.
The introduction of a Solana ETF could remove barriers to investing in the crypto sector, such as custody issues, enabling more people to join the ecosystem. Recent SEC approvals of spot Bitcoin ETF applications from financial giants suggest the possibility of altcoin ETFs in the future.