The post Is Solana Price Set to Reach $600 in This Bull Market? appeared on BitcoinEthereumNews.com.

Solana has popularly become the go-to choice for several venture capitalists and hedge funds, with most believing it’s price could reach $600 in this bull market cycle. In a recent Crypto Investment Manager Survey by MV Global, 76 venture allocators were asked, and almost a third of those who participated believed SOL could reach that mark. Solana’s Bullish Run Continues: $600 Target in Sight The last seven days have been a field day for gains within the top assets in the cryptocurrency market, especially Solana. Some coins surged past Bitcoin’s gains in the past week. Solana price is doing particulary great this week, up 34.7%, which is way higher than Bitcoin’s 7-day increase of 28.1%. The cryptocurrency market experienced a massive inflow following Donald Trump’s victory in the 47th presidential election and also on crypto prediction markets. As Bitcoin price hit a new high of $88,933, most major altcoins recorded a renewed recovery. Thus, the Solana price recorded a sharp surge as well. At the current price of $210.65, the token seems still well-positioned to go further upwards. A recent MV Global’s Q4 2024 Crypto Investment Manager Survey has placed the coin at a $600 value during this bull cycle. The MV Global survey conducted responses from 76 prominent venture capital and hedge fund managers. The results of this survey have identified a few trends in the crypto market. Interestingly, 33% think Solana price will exceed $600 during this bull cycle, while another 23.2% say $600 is the limit. The rest of the participants believe that the SOL price will remain between $150-$300. The token has been the best performer over the past 30 days, up 49.2%, against Bitcoin’s +40.6% and Ethereum’s +37.7%. According to the survey, this outperformance will continue because it has greater exposure to emerging sectors, including DePIN and meme coins. A Closer Look at the Factors Driving the Surge The study shows strong confidence in Solana’s potential.…

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Filed under: News - @ November 13, 2024 4:21 am