It seems that the cryptocurrency market is gaining momentum. Bitcoin (BTC) has recovered the $105,000 threshold after dropping below $102,000 this past week. In the past 24 hours, global crypto-market cap rose 1.5% to $3.77 billion. Solana follows current market revival. Asset is getting closer to $260.
You may also like: Nvidia (NVDA) Stock Projected to Grow 70%, Enter $300B Market
Solana Gains Traction
SOL has been engulfed by green this morning. Popular cryptocurrency SOL has increased by 4.3% over the past 24 hours. It also increased 22.2% on the weekly chart, 37.6% on the 14-day chart, and 30% from the prior month. Asset has also increased by 211% in the last year.
SOL has fallen only 11,6% since its peak of $293.31. The asset’s peak was Jan. 19, 2020.
The Cryptocurrency Market’s Latest Push
Yesterday, the crypto market gained momentum after a short correction in early this week. Solana, or SOL as it is also known in crypto asset terms, has seen significant growth since yesterday.
It is possible that the latest rise in bitcoin prices was caused by US President Donald Trump signing a executive order to create a stockpile of digital assets. In the statement it is stated that “The digital asset industry plays a crucial role in innovation and economic development in the United States, as well as our Nation’s international leadership”
You may also like: Avalanche (AVAX) to Reach $70 This Month: Here’s When
SOL can reach $300 by January.
According to CoinCodex, SOL’s price will consolidate for the next week. Platform predicts that the asset will trade at $261.33 by Jan. 31 2025. A rally of 0.53% is required to reach $261.33 compared with current levels.
You may also like: Apple (AAPL) Gets Price Target Cut By Goldman Sachs: But Why?
SOL may reach a new record high of $300 before the end of the month. Investor sentiment could be boosted by the latest executive order. The rise in investors’ sentiment may trigger an increase to new heights.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru
