In 2024, Solana (SOL) has shown significant growth and fierce competition with major blockchains like Ethereum (ETH). Despite Ethereum’s $552 million token sale and launching 559 leading projects, Solana, with $324 million raised and 152 projects, has surpassed Ethereum in transaction volume and numbers. Despite recurring outages, the market remains optimistic about SOL, expecting an upward trend in Solana’s price in 2025 and new price highs. Solana’s news about tradable Exchange-Traded Funds (ETFs) has attracted attention, potentially increasing public acceptance and reducing regulatory pressures on this digital currency. An important factor influencing Solana’s price will be the release of over 112 million SOL tokens worth $2.14 billion in March 2025. These tokens, owned by the FTX exchange, have been sold at a discount to institutions like Figure Markets and Pantera Capital, indicating significant institutional investor interest in Solana. In simple terms, the release of 23% of Solana’s circulating supply can significantly impact its price trend, ushering it into a critical and pivotal phase. Solana’s daily chart indicates that in the short term, SOL can reach resistances at $210 to $229. If it surpasses these resistances, the next crucial resistances will be at $236 and $254. If SOL breaks through all upcoming resistances, it could reach $300 by the end of the first quarter of 2025, although notable challenges during this timeframe may delay this trend. Furthermore, the decrease in trading volume strengthens the likelihood of a sharp increase in buying and Solana’s rise to higher levels. Traders are still looking for suitable entry points. In the daily chart, it appears that Solana has a demand range between $165 and $155, and buying within this range can bring significant profits to traders. Additionally, this demand range aligns with the 200-day moving average as resistance. You can view the prices of all tokens and cryptocurrencies live and instantaneously on the Instant Cryptocurrency Prices page.
