"I know, I know - making bullish price predictions for any cryptocurrency in this market may seem utterly foolish. Indeed, the price action in the broader crypto market has been downright bearish in recent weeks, with the total market capitalization of all digital assets dropping from around $3.75 trillion a month ago to $3.22 trillion at the time of writing. That's good for a drop of around 15% over the course of the past month."
"So, when most top-tier cryptocurrencies are on the decline, it can be hard to put forward a bullish price target, even on world-class tokens like Solana (CRYPTO:SOL). That said, I'm going to do just that. If we do see a resurgence of bullish momentum form among risk assets, this is one token that could fly in the coming year. Here's why."
Crypto markets have been bearish recently, with total market capitalization falling from about $3.75 trillion to $3.22 trillion, a roughly 15% drop in a month. Solana experienced security-related concerns, including blackouts and network outages that eroded some investor confidence. Solana offers some of the fastest finality times and some of the lowest transaction costs among smart-contract proof-of-stake networks. Solana has become a go-to network for developers and users building decentralized applications seeking speed and low fees. Transaction volumes and total value locked have shown growth, and spot ETF launches could provide additional momentum. If risk-asset bullishness returns, Solana could rally toward prior $250 levels.
Read at 24/7 Wall St.
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