Crypto YouTuber Jake Gagen He shared his “insane price prediction” for Solana (Sunday) He also said that the crypto token will rise to $750. The cryptocurrency analyst did not stop there, as he also provided a time frame for reaching this price level.
Solana's price will rise to $750 in 2025
Gagin said he expects Solana to reach this price level by 2025 in X (formerly Twitter) mail. In the accompanying video, he explains several reasons for this bullish sentiment. First, he alluded to the fact that the Solana network is “faster, more secure, and more affordable” than Ethereum.
According to him, more users than Ethereum Other networks will likely migrate to the Solana network as more projects are built on it. This is based on his expectation that Solana will be…Top competitor“For Ethereum on the next bull run. Gagen also emphasized that SOL will eventually become the third largest token by market capitalization, behind only Bitcoin and Ethereum.
The second reason an analyst might be bullish on SOL is because of what happened He recovered admirably from FTX scandal. Solana was at the heart of the matter as the founder of the cryptocurrency exchange, Sam Bankman Fried (SBF), was one of the largest backers of the token. SOL fell below $10 as a result while it was in the middle of a bear market.
However, she has since recovered well, Climb above $100 Towards the end of last year. That's why Gagin believes the cryptocurrency token could reach and surpass its all-time high of $260.
SOL price drops to $95 | Source: SOLUSD on Tradingview.com
SOL is also making its way into the traditional market
Jake Gaggin also highlighted the fact of this Solana It was making its way into the traditional market as another reason for the high price of SOL. Solana's entry into the traditional market is said to be through its partnerships with prominent brands. One of them is what a cryptocurrency analyst mentioned Its partnership with Shopify.
Back when the partnership was confirmed, NewsBTC Highlight How can it help attract more users towards cryptocurrencies specifically in the Solana ecosystem. It was expected that the network would see more activity, considering the number of users Shopify already has.
It is interesting that The number of transactions recorded by Solana Daily is another reason why Gagain is more optimistic in SOL. It is known that network activity is another factor that can affect the price of a token.
At the time of writing, SOL is trading at around $95, down more than 2% over the past 24 hours, according to Data From Coin Market Cap.
Featured image from Analytics Insight, chart from Tradingview.com
