With 2023’s end just on the horizon, Solana (SOL) is up almost a remarkable 800%; so, is a $100 price in 2024 realistic? The asset has proven to be one of the best-performing crypto currencies over the last several months. Subsequently, could the coming year prove to be even better for the asset?
Solana has increased its price by 781% in 2023 and is trading at $88.79 currently. Moreover, its increase of more than 11% in the last 24 hours has shown its continued ascension. The question is, could that continue to eventually reach the three-digit mark in 2024?
Also Read: Solana (SOL) Price Prediction: December End 2023
Solana (SOL) Headed for $90 as 800% Increase Could Continue in 2024
For the last several months, the overall growth of Solana has been a rather impressive development. Indeed, the asset is set to leave 2023 behind with the most growth of any digital asset throughout the year. Yet, as Solana (SOL) is up nearly 800% over the last year, could a $100 price be on the cards for 2024?
Over the last two months, Solana has seen its growth occur steadily. Moreover, it has led to the asset easily surpassing the $85 mark, with many observing its potential to reach $90 by the start of the new year. Specifically, crypto analyst Ali Martinez predicted such an ascension in early December, when the asset was trading at $68.20. Moreover, his forecasted breakout led to its continued rise to that level.
Also Read: Solana’s Q4 Rally: Activity Hits New Highs, Outpaces Ethereum by 300%
Additionally, the asset has increased its overall market capitalization by an astonishing $4 billion in just the last 24 hours. Currently, CoinMarketCap observes Solana as the fifth-highest digital asset by market cap, behind only BNB, Tether, Ethereum, and Bitcoin.
Another bullish sign for the asset is how much of it is staked on the Solana blockchain. Indeed, there is more than $1.21 billion worth of total value locked (TVL), according to DeFi Llama. Conversely, the asset has seen a monthly chart increase of more than 54% and could easily carry the positive momentum into the next year.