Ethereum

Stablecoin

Solana

United

Step Finance

<p>The post <a href="https://coinpedia.org/price-analysis/solana-sol-price-poised-to-hit-163-if-this-happens/" rel="noopener noreferrer nofollow">Solana (SOL) Price Poised To Hit $163 If this Happens</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Solana (SOL), a fast-growing layer one (L1) blockchain with a Total Value Locked (TVL) of about $138 billion, has continued to make significant waves in the recent past. Valued at about $57 billion, the Solana ecosystem has attracted notable attention from institutional investors seeking to diversify their crypto portfolio from Bitcoin (BTC), and Ethereum (ETH).</p>
<p>Moreover, Solana core developers have been busy building the necessary infrastructure to enable mass adoption of the web3 industry and multichain digital assets. For instance, the Solana network has successfully rolled out its smartphone dubbed Saga mobile which helps users explore the web3 industry securely.</p>
<h2 class="wp-block-heading" id="h-solana-network-aims-to-dethrone-ethereum-nbsp">Solana Network Aims to Dethrone Ethereum&nbsp;</h2>
<p>The Solana network gained popularity as an Ethereum killer and has since continued to grow exponentially, despite the notable setbacks caused by the FTX and Alameda Research implosion. Interestingly, the Solana network registered the highest 7-day transfer volume in the past 24 hours, which surpassed the Ethereum network. Nonetheless, Ethereum remains to have the lion’s share of about $69 billion in stablecoins madcap cap compared to $1.8 billion for the Solana network.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> BREAKING BIG: <a href="https://twitter.com/solana?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@solana</a> has achieved $120 billion in Stablecoin transfer volume, surpassing Ethereum and every other chain. <br><br>This marks the highest 7-day transfer volume ever recorded on solana. <a href="https://t.co/UZakXK7e9F" rel="noopener noreferrer nofollow">pic.twitter.com/UZakXK7e9F</a></p>— SolanaFloor | Powered by Step Finance (@SolanaFloor) <a href="https://twitter.com/SolanaFloor/status/1744617745654681829?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 9, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="h-sol-price-analysis">SOL Price Analysis</h2>
<p>According to a popular crypto analyst Ali Martinez, Solana’s price is on the cusp of a major uproar if the crypto bulls reign in the coming weeks. The crypto analyst argues that SOL/USD has been forming a bull flag in the recent past and a consistent close above the resistance level around $110 could result in an imminent rally above $160.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">On the hourly chart, <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Solana</a> is showing signs of forming a bull flag. A decisive close above the $110 resistance level could be the catalyst for a significant upward move!<br><br>If this pattern holds, we might see <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a> heading toward an ambitious target of $163. <a href="https://t.co/dHNDnb9uNK" rel="noopener noreferrer nofollow">pic.twitter.com/dHNDnb9uNK</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1744600088599572632?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 9, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Worth noting that Solana’s short-term bullish outlook will significantly be impacted by the decision made by the United States Securities and Exchange Commission (SEC) on spot Bitcoin ETF by January 10.</p>

Solana (SOL) Price Poised To Hit $163 If this Happens

Table of Contents

CoinPedia News

Other articles published on Jan 9, 2024

Why is the crypto market up today? BTC hovers around $47K

Addressing DeFi Hacks and Ongoing Security Challenges

Move Over $SHIB & $BTC, Mollars Token Presale Might Yield +9,500,000% Returns

Solana Foundation reports remarkable growth in developer retention in 2023

'Bitcoin to the Moon' mission fails ahead of SEC's decision over spot Bitcoin ETF

Solana's (SOL) $100 Comeback: Unveiling Game-Changing Trends And Profitable Predictions

Join our free newsletter for daily crypto updates!