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Solana (SOL) Price Target Raised to $480 by 2025, $800 Possible if Market Dominance Increases

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Release: 2024-07-18 03:33:50
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A popular analyst has raised his price target for Solana (SOL), projecting a potential value of $480 by the end of 2025

Solana (SOL) Price Target Raised to 0 by 2025, 0 Possible if Market Dominance Increases

A popular crypto analyst has raised his price target for Solana (CRYPTO: SOL), projecting that the token could be valued at $480 by the end of 2025, with a high-end estimate reaching $800.

Virtual Bacon's latest forecast is largely based 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 (CRYPTO: BTC) will reach a price of $250,000 by the end of 2025, which would put its market cap at around $5 trillion. Assuming Bitcoin maintains a 50% dominance in the cryptocurrency market, this would suggest 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.

“I had estimated a price of $240 to $250 based on a lower market dominance assumption for Solana. However, given its 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.”

What's Driving Solana's Retail Adoption? Two key initiatives are credited with Solana's impressive躍 in retail adoption: Solana Mobile and Solana Pay.

Solana Mobile, which has been 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 (NYSE:SHOP) for over a year and recently introduced new features like Solana Actions and blockchain links (Blinks).

These initiatives are designed to enhance Solana's retail adoption and user experience.

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source:kdj.com
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