The altcoin market seems to be recovering as of late. The leading cryptocurrency, Bitcoin, has touched the $70K mark once again, triggering several altcoins to surge and spark a new price path. Solana has also been showing stellar price moves, as SOL recently moved to claim the $193 mark. Will it be able to breach past $250 this weekend? Let’s find out.
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Solana: SOL Is Unlocking New Achievements
Source – Forkast
Solana is currently on a path that guides crypto to claim new milestones. According to Degen News, SOL has recently flipped Ethereum in the total transaction fees and MEV tips sectors. The portal shared that this is the first time in history that SOL has claimed such a milestone.
“BREAKING: SOLANA FLIPS ETHEREUM IN TOTAL TRANSACTION FEES AND MEV TIPS ON THE WEEKLY FOR THE FIRST TIME IN HISTORY.”
At the same time, the token’s total value locked, or TVL, has also touched new peaks. Solana’s TVL has crossed $5.65B, its highest level in nearly 931 days.
“JUST IN: Solana TVL climbed to $5.65B, the highest level in 931 days.”
The metrics show how popular Solana has lately been within the crypto sector and is still going strong despite encountering several market hurdles. The token is also basking in strong market confidence, which is helping SOL adapt to a new price pace and trajectory.
Solana Price Path for the Weekend
With Solana touching the $193 mark, investors are now hoping for the token to claim its highly coveted $250 price mark. According to Changelly, Solana may note a moderate change, spiking by 1% to claim a $194 price mark by this weekend.
CoinCodex, at the same time, shares that the token may slightly retrace its steps to claim the $183 price mark by August 2, 2024.
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For August, Changelly predicts the token may hit the $232 price mark, ushering in a new price peak for SOL.
“Crypto analysts expect that at the end of summer 2024, the SOL price will be around $212.51. In August 2024, the Solana cost may drop to a minimum of $192.06. The expected peak value might be $232.96 in August 2024.”