Trader Predicts Massive Solana (SOL) Rally to New All-Time High of $360 – Here's His Timeline

A popular crypto analyst thinks Ethereum (ETH) competitor Solana (SOL) could skyrocket to new all-time highs within the next year. The pseudonymous trader known as Inmortal shares a chart with his 202,700 followers on the social media platform X that projects SOL surging to $360 by the beginning of 2025.

Timeline of Solana

A Solana address potentially related to the now-defunct crypto exchange FTX has unstaked $90 million worth of SOL, according to on-chain data. First spotted by Lookonchain, an address beginning with “4Axqyo” unstaked 1.5 million SOL and transferred it to another address.

DefiLlama data indicates that the total capital locked or staked across all decentralized finance (DeFi) protocols peaked at $49.6 billion, on Dec. 5, 2023. For the first time in six months, the value of underlying assets increased, and investors looked to secure a yield on their crypto holdings.

A transformative wave is sweeping through the decentralized finance (DeFi) arena, as novel blockchain platforms disrupt the status quo. Standing tall among these challengers is Solana, celebrated for its exceptional throughput and scalability.

The duo of XRP and Solana (SOL) have received a major new boost as the month runs to a close following the announcement of a mega listing on Crypto.com. As the top exchange revealed, the EUR pairs for both assets are now live on its platform, setting the stage for users in the European Union to embrace the pairs.

Solana Price Prediction: The ongoing correction in the Solana coin price has found suitable support at the $51.4 level. Over the past two weeks, the price rebounded twice from this level, signifying continued accumulation by buyers during market dips, a behavior often associated with strong market recovery.

As one of the leading layer-1 blockchains, Solana offers an insightful proxy for analyzing the broader L1 ecosystem. Its unique combination of high throughput, low transaction costs, and a rapidly growing ecosystem makes it an ideal case study for understanding trends in blockchain adoption, user behavior, and transactional dynamics.

Three primary sectors are driving the development of Solana's (SOL) “vibrant” ecosystem, according to the Hong Kong-based crypto exchange CoinEx Global. CoinEx notes in a new analysis that the Ethereum (ETH) competitor's attention is focused on decentralized finance (DeFi), memecoins and decentralized physical infrastructure networks (dePIN).

Ethereum Layer-1 competitor Solana has been on a downward trajectory ever since hitting its 2023 high of $68.21 earlier this month in November. The Solana price has corrected a further 5% over the last 24 hours slipping under $55 as of press time.

Markus Thielen, Head of Research at Matrixport, recently shared a comprehensive analysis on how well the Solana blockchain and its native token SOL have done in 2023. Thielen began by highlighting SOL's extraordinary price growth in 2023, noting a staggering 480% increase year-to-date.

A Solana (SOL) competitor is suddenly soaring amid news that stablecoin issuer Circle (USDC) is investing in the blockchain project. The Sei Network (SEI), the new layer-1 blockchain that claims to be a blockchain faster than Solana, reached a high of $0.