Solana crypto has been gaining attention from investors and traders as it shows signs of a possible huge price rally. Market analysts are optimistic about the digital currency’s trajectory, especially after it hit a two-month high following a successful comeback.
Several analysts have predicted that Solana could experience an exponential price rally, with some even suggesting a potential 2,500% surge in its price. This would mean that Solana, currently trading at slightly over $170, could reach the $4,500 level, which has sparked excitement among crypto traders and enthusiasts alike.
However, some market observers are more conservative in their estimates, suggesting that a more reasonable price increase to $450 from the current $171 level is more likely. CoinGecko, a prominent crypto tracking platform, also echoed this sentiment, questioning the massive growth projections put forth by other analysts.
One notable event that caught the attention of the crypto community was when a whale took advantage of Solana’s peak price of $164 and sold a significant amount of the digital currency. The smart money tracker reported that the whale traded $3.86 million worth of Solana, equivalent to 22,726 SOL, showcasing typical whale behavior of buying low and selling high. The whale currently holds 20,000 SOL, with a total profit estimated at over $2.5 million.
In a positive development for Solana, Robinhood Crypto recently announced that it has enabled Solana on its platform, allowing users in the European Union to transfer the digital currency. To incentivize users to transfer their SOL currency, Robinhood Crypto offered a 1% deposit bonus on the app. This move adds Solana to the list of supported cryptocurrencies on the platform, where users can also earn a 5.23% annual yield by bankrolling their Solana crypto within the platform.
Overall, Solana’s potential for a price rally, along with key developments like its adoption by Robinhood Crypto, has solidified its position as a promising digital currency in the crypto market. Traders and investors are closely monitoring Solana’s performance as it continues to show positive momentum in the market.