Solana is a project that has been making waves in the crypto space, especially lately.
We recently addressed the fact that Solana became the first altcoin in the crypto market to record a new ATH post-May crash.
Looking at CMC data, Solana has seen its market grow over 400% in a little over a month.
The altcoin’s price momentum is more than likely associated with the rapid growth of the Solana ecosystem as the long-term on-chain activity nears new highs.
CMC notes the following:
“the social crowd sentiment has also been behind $SOL for quite some time now and spiked highest on August 31.”
The platform also noted that the crowd sentiment is generally measured in terms of social media activity which spikes as the popularity of the token rises.
Solana latest price predictions
At the moment of writing this article, SOL is trading in the green, and the coin is priced at $145.60.
Due to its massive success, Solana was able to penetrate the mainstream media.
The Sun recently noted that crypto fans have been trying to forecast Solana’s fortunes.
Solana’s price could hit $250 in the next coming months – this is according to a prediction by the website Coin Price Forecast.
The same online publication notes that Coin Quoro has forecast that Solana’s price could reach a high of $350 by the end of 2022.
It’s important to note that Solana creators are saying that it can process more than 50,000 transactions per second (TPS).
Solana in the news
We recently addressed five reasons for SOL’s success, and we recommend that you take a look at our previous article.
Stay tuned for more news and keep your eyes on the crypto market.