CandleFocus Solana price prediction: here’s why SOL could surge to $550
2024-11-29
Author: Content Editor
Solana's price is set to experience its first weekly loss in four weeks, signaling a fade in recent bullish momentum. However, Solana remains one of the best-performing big-cap cryptocurrencies, having surged by over 2,700% from its lowest level in 2023. Solana's network has seen impressive growth and is seen as a major threat to Ethereum. The Total Value Locked (TVL) in Solana's DeFi industry has surged by over 50% in the past 30 days. Additionally, Solana has become the biggest chain for Decentralized Exchanges (DEX), with its protocols handling over $128 billion in volume in the last 30 days. The popularity of Solana's meme coins has contributed to this growth. Solana offers higher staking returns compared to other networks, making it an attractive option for investors. The weekly chart shows bullish signs, with the potential for the SOL price to reach $512.
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