Crypto Analyst Says A Solana Price Will Climb To $750, Here’s When
January 15 2024 - 2:00PM
NEWSBTC
Crypto YouTuber Jake Gagain has shared his “insane price
prediction” for Solana (SOL) as he said that the crypto token will
climb to $750. The crypto analyst didn’t stop there as he also
provided a timeframe for when this price level would be
attained. Solana Price To Rise To $750 In 2025 Gagain said
that he expects Solana to hit this price level by 2025 in an X
(formerly Twitter) post. In the accompanying video, he outlined
several reasons for this bullish sentiment. For the first, he
alluded to the fact that the Solana network happens to be “quicker,
safer, and much more affordable” than Ethereum. Related
Reading: Here Are The Reasons Bitcoin Price Could Drop To $37,000
Before The Halving According to him, more users from Ethereum and
other networks are likely to migrate to the Solana network as more
projects get built on it. This is based on his expectation that
Solana will be the “top competitor” for Ethereum in the next bull
run. Gagain further asserted that SOL will end up becoming the
third largest token by market cap, only behind Bitcoin and
Ethereum. The second reason why the analyst is bullish on SOL is
because of how it has impressively recovered from the FTX scandal.
Solana was at the heart of it as the crypto exchange’s founder, Sam
Bankman-Fried (SBF), was one of the token’s biggest backers. SOL
dropped below $10 as a result of this while being in the middle of
a bear market. However, it has recovered nicely since then,
climbing above $100 towards the end of last year. That is why
Gagain believes that the crypto token could go as far as hitting
its all-time high of $260 and surpassing it. SOL price drops
to $95 | Source: SOLUSD on Tradingview.com SOL Is Also Making Its
Way Into The Traditional Market Jake Gagain also highlighted the
fact that Solana was making its way into the traditional market as
another reason he was so bullish on SOL. Solana’s entry into the
traditional market is said to be happening through its partnerships
with notable brands. One of them, which the crypto analyst
mentioned, was its partnership with Shopify. Related Reading:
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Cold Storage Back when the partnership was confirmed, NewsBTC
highlighted how it could help onboard more users into crypto and
specifically into the Solana ecosystem. The network was projected
to see more activity, considering the number of users Shopify
already has. Interestingly, the number of transactions Solana
records daily is another reason why Gagain is most bullish on SOL.
Network activity is known to be another factor that can affect a
token’s price. At the time of writing, SOL is trading at
around $95, down over 2% in the last 24 hours, according to data
from CoinMarketCap. Featured image from Analytics Insight, chart
from Tradingview.com
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