The Solana (SOL) ecosystem witnessed a notable run this 12 months. Despite falling down the crypto ladder, the asset recorded a yearly development of practically 250%. Amidst this, Solana was seen taking on a well-established community like Ethereum (ETH). Can this drive the value of SOL over the subsequent couple of days?
How Is Solana Faring At The Moment?
At press time, Solana was buying and selling at $223.71 after a 2.87% drop over the previous 24 hours. While the asset remained secure, it witnessed a big plummet to its present stage from a excessive of $233. In addition, it must be famous that SOL hit a brand new all-time excessive of $263.83 about 20 days in the past. Currently, the fourth largest altcoin trades practically 15% beneath this peak.
As the value of SOL tried to recuperate, Solana was shining amongst builders. According to a latest report, for the primary time since 2016, the Solana ecosystem onboarded extra builders in July than the Ethereum ecosystem.
This pattern endured for the rest of the 12 months, and as of proper now, Solana has added 7,625 new builders, with Asia main the way in which, in comparison with Ethereum’s 6,456. In addition, the Solana ecosystem has seen an 83% enhance in exercise from the earlier 12 months.
Solana (SOL) Price Prediction for 2024
The group hopes SOL surges to a excessive of $300 earlier than the tip of 2024. But the asset appears to be transferring slower than anticipated. According to information from CoinCodex, the altcoin will commerce round $228.94 on December 15. Sadly, that is the very best stage SOL will commerce for that weekend and week.
The above picture highlights how SOL is way from reaching $300 and reclaiming its peak of $263. The group should wait longer to see a drastic rise within the Solana market.
