Solana has been on a roll lately. It’s been climbing the ranks and is now one of the top five blockchains. The price of SOL, its native token, has doubled in the last 10 months, and the network is becoming a hotbed for meme coins.
Solana’s Growth Story
Solana is the third largest smart contracts platform after Ethereum and BNB Chain. Its rapid growth over the years has led some to believe that it’s undervalued.
Here’s what’s driving the hype:
- Revenue is skyrocketing: Solana is making a ton of money from transaction fees, which are going up as more people use the network.
- Total Value Locked (TVL) is increasing:
This means more and more assets are being stored on Solana’s protocols. While it’s still below its 2021 peak, it’s on the rise. - Meme coin mania: The recent surge in meme coin activity on Solana has boosted its trading volume.
Will SOL Hit $200?
With all this positive momentum, some analysts are predicting that SOL could break through the $200 mark in the next few months. It’s been trading around $180, but it’s already hit $240 this year.
It’s too early to say for sure, but Solana’s impressive growth and strong fundamentals make it a blockchain worth watching.
