Solana (SOL) has been making headlines in the industry regarding FTX’s wallet movement. Amidst this chaos, the cryptocurrency was trading at $134.03, with a 0.26% drop over the last 24 hours. The altcoin went from a high of $136 earlier today to a low of $133.
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Solana’s Current Performance And Future Prospects
Along with the price, the daily volume of the Solana network witnessed a massive drop. According to CoinMarketCap, the 24-hour volume of SOL dipped by 35% down to a low of $1,310,178,977.
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Will $200 Remain A Dream For Solana?
The cryptocurrency industry is volatile and unpredictable, so the asset could witness major price fluctuations. But Solana will sadly have a slow September.
Data from Changelly revealed that SOL is expected to reach a maximum price of $143 this month. To reach $200, the asset will have to rise by nearly 40%.
Historical Performance And Potential For New Highs
It should be noted that the asset hit an all-time high of $260 in November 2021. Currently, SOL is 48% below this level. While this might seem like a lot, Solana has surged by 638% over the past 12 months, further strengthening the possibility of SOL hitting a new high.
Delayed Bullish Surprise
According to an analyst who goes by Curb, the price of Solana has been moving in a comparatively small range for about 170 days. Once more, this would indicate that SOL ought to make a splash shortly, with Curb having quite high expectations.
SOL has already increased by over 600% in just a year, so a $1,000 price would entail an almost 600% gain from its current position.
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