Irmaπ Independent market analyst Hansolar believes Solana is poised for a bull run amid the current crypto market surge led by Bitcoin. Hansolar draws a bullish analogy for Solana, citing its potential to replicate Ethereumβs price trends during previous bull runs.
π― Solana targets a goal of $600, potentially driven by Bitcoin's long bull run and the anticipation of ETF approval, as suggested by Fundstrat Research Chairman Tom Lee. This target represents a 450% increase above the current SOL price.
π₯ Solana has recently seen significant network adoption, with its total value locked (TVL) reaching its highest level since January 2023, at 20.51 million SOL. This rise in TVL, coupled with continuous quarter-over-quarter growth, underscores strong interest in the Solana ecosystem. During the fourth quarter of 2023, the network experienced notable increases in average daily fee payers, DEX volume, and NFT volume.
πΈ In the first quarter of 2024, events like the Jupiter DEX's native token airdrop and increasing NFT volumes further stimulated activity on the Solana blockchain network, highlighting continued demand for SOL tokens.
