Solana Potentially Prints New Record, Crypto Analyst Projects Sol Price Surge

SOL crypto assets, original Solana blockchain coins. (Photo; Doc. The Blog)

JAKARTA - Solana (SOL), one of Ethereum's competing blockchain platforms, has received attention from popular crypto analyst, Inmortal. In a post on social media, Inmortal estimates that SOL could hit a new record high of up to 360 US dollars (Rp 5,574,240) in early 2025.

SOL is the sixth-ranked crypto asset by market cap, with a value of around $60,1,054 at the time of writing this article. SOL has decreased by more than 3% in the last 24 hours, but has still risen by more than 1.000% since the start of this year. Solana's record high was recorded at around $260 (IDR 4.025.840) in November 2021, according to CoinGecko.

Inmoral, which has more than 202,700 followers on social media, shares a graph showing projected SOL prices by 2025. The graph shows that SOL will reach around 100 US dollars (Rp 1,548,400) towards the end of this year, with most of the increase occurring in the second half of 2024.

Solana is a blockchain platform designed to support decentralized applications (DApps) and decentralized finance (DeFi) on a large scale. Solana claims to be able to process more than 50,000 transactions per second at low cost, thanks to a unique consensus mechanism called proof-of-history (PoH).

Solana also received support from various strategic projects and partners, such as Serum, Audius, FTX, Chainlink, USDC, and others. In addition, Solana also received an injection of US$314 million (IDR 4,860,496,000) in June 2021 from a number of well-known investors, such as Andreessen Horowitz, Polychain Capital, Alameda Research, and others.

Apart from SOL, Inmortal also provides pricing projections for Litecoin (LTC), a peer-to-peer payment-focused crypto asset. Imortal estimates that LTC could jump to around 90 US dollars (IDR 1,393,560) in early 2024. LTC is currently at 72.38 US dollars (IDR 1,120,163) at the time of writing this article.

Meanwhile, for Bitcoin (BTC), Inmoral estimates a price drop this week. The analyst noted that the $38,000 level is the point where he plans to make purchases on this top crypto asset. BTC is currently trading at US$41,894 (Rp 648,337,776), hitting its highest level since April 2022. This top crypto has seen a gain of more than 6% in the last 24 hours and nearly 20% in the past month.