The post Can Solana (SOL) Hit a New ATH? 3 Key Drivers to Watch appeared on BitcoinEthereumNews.com.

Solana’s future price recovery depends on improved network stability and scalability to compete with Ethereum and BNB Chain. Solana’s TVL growth and Web3 adoption, including stablecoin migration, are key factors for future price appreciation. Solana (SOL) made headlines in 2021 and early 2025 as one of the most promising blockchain networks, often called the “Ethereum killer.” However, SOL’s price has dropped since its all-time high (ATH) of $295 on January 19, 2025. Currently trading at $238.77, with a rally of 3.30% over the previous day, Solana’s price has struggled to maintain upward momentum. However, despite a 26% drop from its ATH, there are still reasons to remain optimistic about Solana’s future. Several factors could determine whether Solana will break its all-time high or stay stagnant. Improved Network Stability and Scalability Solana has faced ongoing network outages, which have created concerns regarding its scalability and transaction throughput. Such issues have undermined investor confidence and hindered the network’s growth in decentralized applications (dApps). As a result, Solana has struggled to match its competitors, including Ethereum and BNB Chain, in terms of reliability. However, Solana must improve its network stability to regain its former status and potentially reach new highs. It is paramount to ensure a reliable and scalable platform for developers to build and users to transact on. Additionally, Solana’s team must implement consistent adjustments to increase transaction throughput and reduce downtime. The slowdown in Solana’s development activity has become another obstacle to its price recovery. Since the platform’s network issues began, many developers have paused or abandoned projects, reducing the number of new applications and use cases built on the Solana blockchain. This lack of innovation slows the platform’s growth and limits its ability to compete with other blockchain networks. Revitalizing Solana’s developer network is a key factor in its future…

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Filed under: News - @ January 30, 2025 11:25 am