Solana’s (SOL) altcoin community celebrated when it reached a new peak. SOL reached a new high earlier today of $263.70. The asset has risen by an astounding 382% in the last 12 months. The real question, however, is whether SOL will continue its hot streak to reach $300 before the end of this month.
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Look Into Solana’s Ascent
Solana, according to the latest data, was trading for $260.82 after a minor setback from its high. It has had a stellar 24 hour performance, rising by an astounding 9%. Altcoins’ daily volume grew 53%, reaching $10.91billion.
It is a monumental growth for Solana’s ecosystem. It is important to note that the milestone came two years following the collapse of Alameda Research – a key supporter for the Solana Ecosystem – and Sam Bankman Fried’s cryptocurrency firm FTX. SOL dropped as low as 8 dollars in late 2022.
Solana’s recent rise is tied to an exchange-traded Fund (ETF). Bitwise, an asset manager for cryptocurrency, filed Form S-1 registration statements with the SEC. BNY is expected to be the administrator of the Trust for the Solana ETF. filing.
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Thanksgiving Prediction
CoinCodex, an influential prediction platform has good news for SOL’s investors. The asset is expected to continue on its upward trend for the remainder of this month. Solana will have to work hard to reach $300. CoinCodex predicts that the altcoin’s price will hover around $258 at Thanksgiving on 28th November.
Solana will continue to be a winner in the weeks ahead, despite the fact that the stock is likely to suffer a slight setback over the next couple of days. SOL investors will need to be patient to see the rewards of their investment.
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Source: watcher.guru
