Solana has experienced notable growth in the DeFi, NFT, and Web3 markets since its inception in April 2019. Numerous projects are currently being developed on the Solana network, with more expected to emerge soon.
According to information provided on Solana’s official website, the company’s main value proposition is offering low-cost transactions indefinitely. As a blockchain network, it competes directly with other platforms, such as Ethereum. Solana has recently breached the price level of $110. According to recent data, SOL has increased by over 3% in the last 24 hours.
Even though the whole cryptocurrency market is trading in the red, Solana is still trading in the green. With the New Year almost here, here is our price prediction for Solana this New Year.
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SOL price prediction for New Year
Various factors, such as market conditions, price action, developments, supply, and use cases, will determine whether Solana’s SOL can shoot up in price this New Year.
Based on SOL’s behavior at the start of 2023, cryptocurrency experts at Changelly offer their price prediction for Solana for Christmas. For this timeframe, SOL’s price is anticipated to be $117. For the new year, the minimum price is anticipated to be $103.08. The maximum price is expected to reach $131.
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According to the latest CoinMarketCap data, Solana is trading at $114, with a 3% surge in value over the last 24 hours. SOL has currently surged past the $110 resistance, eyeing the next level even when the whole market trades in the red. SOL is also up by 52.5% in the last seven days. However, prices can fluctuate and vary depending on the overall market conditions.
