Solana

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<p>The post <a href="https://coinpedia.org/news/solana-price-prediction-will-sol-price-break-202-and-surge-towards-1000/">Solana Price Prediction: BNB Left Behind, SOL Eyes $1000 Target</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>SOL is making waves yet again. In the past 24 hours, Solana (SOL) has seen its price rise more than 4%, reaching around $191.72 during Monday’s London session. This notable increase highlights the growing interest in Solana, a leading layer-one (L1) blockchain with nearly $6 billion in total value locked (TVL). Both institutional investors and retail traders are showing significant interest in this platform.</p> 
<p>Where is Solana headed next? Let’s find out. </p> 
<h2 class="wp-block-heading" id="h-why-solana-stands-out">Why Solana Stands Out</h2> 
<p>Solana distinguishes itself with higher transaction speeds and lower costs compared to Ethereum. Additionally, the Solana ecosystem is thriving, with nearly $10 billion in meme coin market cap. Its web3 projects, especially Raydium DEX, are seeing a substantial rise in on-chain activity.</p> 
<p>Solana (SOL) is currently outperforming Binance Coin (BNB) amid the broader adoption of digital assets. Recent data shows Solana’s market cap is about $89 billion, surpassing BNB, which stands at $86.4 billion. This shift highlights Solana’s growing significance in the cryptocurrency world.</p> 
<h2 class="wp-block-heading" id="h-the-path-to-1000">The Path to $1000</h2> 
<p>A recent study indicates that many Solana holders believe the altcoin is on track to hit $1000 soon. From a technical perspective, Solana’s price has recently broken out of a daily falling logarithmic trend, suggesting potential for further growth.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> to $1,000 could be conservative.</p>— Chris Burniske (@cburniske) <a href="https://twitter.com/cburniske/status/1817612692108038398?ref_src=twsrc%5Etfw">July 28, 2024</a>
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<p><strong>Key Indicators to Watch </strong></p> 
<p>Solana’s price movements are closely tied to Bitcoin dominance trends. The anticipated “altseason” is expected to start after a weekly reversal in Bitcoin dominance. Traders should watch for this signal, as it could lead to a broader rise in altcoin prices.</p> 
<p>Solana’s price may currently be moving within a range between $120 and $202. For those considering investment, it might be wise to wait until Solana consistently closes above $202 before targeting the $1000 mark.</p> 
<h2 class="wp-block-heading" id="h-what-the-future-holds">What the Future Holds </h2> 
<p>The Solana ecosystem has gained attention, especially with the recent launch of U.S.-based spot Ether ETFs. VanEck and other institutional investors have applied for a spot Solana ETF, which could be approved depending on the outcome of the upcoming presidential election, particularly if Donald Trump wins.</p> 
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">BREAKING: <a href="https://twitter.com/solana?ref_src=twsrc%5Etfw">@solana</a> surpasses the combined 24-hour DEX volume of the Ethereum, Base, and Binance chains.<br><br>Solana's DEX volume dominance reached a new All-Time high at 42%. <a href="https://t.co/RVyqKlZ8z9">pic.twitter.com/RVyqKlZ8z9</a></p>— SolanaFloor (@SolanaFloor) <a href="https://twitter.com/SolanaFloor/status/1817853954102845538?ref_src=twsrc%5Etfw">July 29, 2024</a>
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<p>Despite its successes, Solana faces stiff competition from other layer-one chains like Ethereum, Tron, Binance Smart Chain (BSC), and Toncoin (TON). The competitive landscape highlights the need for ongoing innovation and adaptation in the rapidly evolving blockchain industry.<br><br><strong>As institutional interest grows, will Solana’s price continue to soar? Share your insights.</strong></p>

Solana Price Prediction: BNB Left Behind, SOL Eyes $1000 Target

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