The price of Solana has provided a crucial breakout above $32, setting the stage for the next mega bull run.
Solana (SOL), a competitor to Ethereum’s Layer-1 protocol, has experienced a price surge of nearly 70% in the last month.
At press time, the Solana price has increased by an additional 3.55% to $32.54 with a market capitalization of $13.601 billion.
SOL Price Increase
In addition, the price of Solana has surpassed its July 2023 high, setting the stage for a larger rally in the near future.
If the price of SOL closes above $32 daily, the next levels to the upside are $40 and $50.
Regarding this subject matter, a notable cryptocurrency analyst known as the “Titan of Crypto” has provided insight into the anticipated price ranges for Solana over the next few months.
SOL is expected to target a price range between $69 and $123 based on the Titan of Crypto’s comprehensive analysis.
These projections illustrate the optimistic outlook regarding Solana’s future performance and market potential.
The Solana price increase coincides with a robust altcoin market push over the past week.
Moreover, the recent rally has helped the Ethereum rival surpass Cardano and Dogecoin to become the seventh-largest cryptocurrency by market capitalization over the past month.
Solana Major Developments
Solflare, a prominent Solana wallet provider, has introduced a new feature that enables MetaMask users to easily manage their Solana holdings within their existing wallet.
This integration establishes a connection between Solana and Ethereum, reducing the Solana ecosystem’s entry barriers and improving user convenience.
In contrast, the Solana blockchain remains the platform of choice for Web3 platforms to initiate their projects.
On Wednesday, October 25, the Web3 social media and community-building platform DSCVR announced its launch on the Solana blockchain.
This integration will further extend DSCVR’s tokenized communities and crypto asset capabilities to the growing number of users actively participating and interacting within the Solana ecosystem, which has a user base of more than 200,000 individuals.
In addition, DSCVR has tailored its content and user interface to Solana, providing a social networking platform dedicated to the Solana community.