In the past year, a variety of cryptocurrency has grown. One asset has stood out among the recent surges. Specifically, Solana (SOL) The market cap could reach $100 billion in 2024.
The asset currently ranks fifth in the world by value, according to CoinMarketCap. A total of $69 billion could be the catalyst for a 40% increase in value, which would bring it up to $100 billion. But the big question is, could this happen?
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Solana Targets $100 Billion in Market Capital by 2024
Solana has been ranked as the fifth-most valuable digital asset in the world. Moreover its portion is only surpassed Bitcoin (BTC), Ethereum, Stablecoin Tether and BNB. It is possible that the token will break into the top three cryptocurrency by the end of this year.
Solana, or SOL for short, may be poised to reach a market capitalization of $100 billion by 2024. Investor confidence has bolstered the asset’s growth trajectory. Inflows of assets have shown a significant turnaround that could lead to a positive growth for the token in the next few months.
Robinhood Crypto, earlier this morning announced Solana Staking for their European Customers. This news seems to have continued the rally in asset prices. In the past 24 hours it’s risen more than 7 percent. The current price is above the level of $153; it has also been positive over the last one month.
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The Solana network was also at the heart of some of this year’s most significant digital asset developments. The Solana network was home to a number of assets, which surged in value during March’s meme-coin craze. Dogwifhat (WIF) Book of Meme and Book of Meme were both Solana assets.
It certainly did well for the blockchain as well as it’s native token. It also officially passed Ethereum for the first ever in May, and despite any outage fears. The network lived up to its ‘Ethereum killer’ nickname by outperforming its competitor in decentralized exchange volumes at various points this year.
Asset is now up over 615% compared to this point a year earlier, confirming the upward trajectory. Can it gain the 40% needed to exceed a market capitalization of $100 billion? Yes, the answer is definitely yes. If investor confidence continues and ecosystem health persists, this feat could be achieved by year’s end.
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Source: watcher.guru
