Crypto Bull Run 2024: Top Altcoins For 10-100x Surge

The post Bitcoin to Reach $250K, Solana to Surge to $800: Here’s How And Why appeared first on Coinpedia Fintech News

A popular analyst has raised his price target for Solana (SOL), projecting a potential value of $480 by the end of 2025, with a high-end estimate reaching $800. Virtual Bacon’s latest forecast hinges on several key metrics, including Solana’s supply and market cap. Currently, Solana has a supply of 579 million tokens with an annual …

Crypto Bull Run 2024: Top Altcoins For 10-100x Surge

The post Bitcoin to Reach $250K, Solana to Surge to $800: Here’s How And Why appeared first on Coinpedia Fintech News

A popular analyst has raised his price target for Solana (SOL), projecting a potential value of $480 by the end of 2025, with a high-end estimate reaching $800. Virtual Bacon’s latest forecast hinges on several key metrics, including Solana’s supply and market cap. Currently, Solana has a supply of 579 million tokens with an annual inflation rate of 5.2%. By the end of 2025, this supply is expected to grow to approximately 625 million tokens.

In terms of market capitalization, the analyst projects that Bitcoin will reach a price of $250,000 by the end of 2025, resulting in a market cap of around $5 trillion. Assuming Bitcoin maintains a 50% dominance in the cryptocurrency market, this suggests a total market cap for all cryptocurrencies of $10 trillion.

Solana’s market dominance has increased from 0.75% to 3% over the past year. Assuming it remains at this level, Solana’s market cap would be $300 billion, leading to a price target of $479 per token. If Solana’s dominance increases to 5%, the price could rise to $800 per token.

He said, “I had estimated a price of $240 to $250 based on a lower market dominance assumption for Solana. However, with its current growth, I now expect Solana’s price to reach around $480, assuming a 3% market dominance. If Solana’s market dominance increases to 5%, the price could potentially reach $800.”

Reason Behind This Massive Prediction 

So, how has Solana managed to achieve such a drastic increase in retail adoption? There are two major factors that have played a significant role: the Solana Mobile initiative and Solana Pay.

Solana Mobile, active for about two years, offers a mobile-first app store for decentralized applications, making it easier for new users to access and use crypto. This focus on mobile experience has led many new users to choose the Phantom wallet over other options like Metamask or Coinbase.

Solana Pay, a micropayment solution, supports SOL tokens and stablecoins like USDC and USDT. It has been integrated with Shopify for over a year and recently introduced new features such as Solana Actions and blockchain links (Blinks). These initiatives are driving Solana’s increased retail adoption and enhancing its overall user experience.