Solana’s Trading Price Surges by 45% and Analysts expect it may Surge by Three-Folds

Solana’s Trading

The analysts have started coming up with bullish predictions for Solana (SOL). This is because the trading price of the asset has been recording an upward movement for over a week.

SOL Records 70% Weekly Surge

At the time of writing, the trading price of SOL stands at a high of $22.45. The asset has reached the level of having experienced a 35% surge in the past 24-hours.

The most remarkable upsurge SOL has recorded is in the past 7-days. The past 7-day price movement shows that the asset has recorded a 70% surge.

After a long period of downtrends, the trading price of SOL has started to record a strong recovery. The asset is recording an upward movement for a while and it is not just SOL but other projects as well.

DeFi Projects are growing in Demand

In recent months, the adoption of decentralized finance (DeFi) projects has started growing in demand. Many investors are joining the DeFi projects as they find them to be more profitable.

The cryptocurrency industry is composed of several segments and DeFi is among the top ones. While the entire crypto market is still finding it difficult to recover, the DeFi projects are growing larger.

Their demand has been rising and even the likes of Solana blockchain, based on the DeFi network have gained tremendously since the beginning of 2023.

Services Offered by Solana Blockchain

Although the Solana blockchain faced a major downfall starting in November 2022, it did offer a lot of utility and services to the users and developers.

The Solana blockchain is known for offering developers great utilities in the decentralized finance industry. It reportedly offers them a low-cost and high-speed platform that the developers can use.

They can use it for their benefit when they are working on the development of decentralized applications (DApps).

In addition to the above, the Solana blockchain is also responsible for offering users great affordability, speed, and scalability.

These are the features that make the blockchain extremely attractive and a platform for users and developers alike. The users can perform huge transactions at very low costs and at very high speeds.

SOL has Become Very Attractive

Due to the strong adoption of the Solana blockchain, SOL has become one of the most attractive tokens in the crypto market.

With more investors growing bullish, the price of SOL has started to surge. The investors are hoping that the price of SOL may continue surging and for this purpose alone, they will continue investing in the asset.

After a long time, SOL has managed to cross the $22 level, and going forward, it may manage to cross the $30 level.