Solana Price Prediction as Trezor Wallet Adds Support for SPL Tokens – Adoption on the Rise?
Solana (SOL) has experienced a significant surge of 15% over the past 24 hours, reaching $87.94 after the announcement that Trezor’s wallet would accommodate the altcoin.
This uptick means that SOL has increased by 20% in a week and 56% in the last 30 days, with an impressive 626% incline in the past year. Additionally, Trezor’s recent backing further indicates that SOL’s growth trajectory is just beginning, with the likelihood of more price gains in the near and distant future.
SOL’s indicators manifest an upward momentum and suggest that there is still room for the altcoin’s further ascension. Its RSI (purple) has risen above 70 after hovering around 60 for a week, indicating that SOL’s price could continue to climb in the next few days. Moreover, SOL’s 30-day average (yellow) is currently escalating strongly above the 200-day average (blue), suggesting that SOL’s price has the potential to continue its ascent. These positive indicators are complemented by the coin’s support level (green), which has consistently risen over the past couple of months, implying that SOL is unlikely to see a significant drop once it eases off the gas.
Furthermore, SOL’s trading volume remains robust, with a substantial increase from around $750 million a few weeks ago to $4.5 billion today. It appears that whales have been actively trading the token, as inferred from recent transfer alerts. In the context of this active trading, Trezor’s decision to introduce support for SOL and Solana-based assets is highly strategic. Given Trezor’s widespread customer base of over 1 million and SOL’s increased total value locked from $210 million to $1.2 billion, this expansion of support could significantly elevate the altcoin’s status in the market.
Looking ahead, 2024 is anticipated to be a bullish market period, further suggesting that the Solana price is likely to see continual growth. The potential for SOL’s price to surpass $100 in the coming weeks and challenge its all-time high (ATH) of $259 by the end of 2024 is a convincing possibility.
Alternative Alts with Strong Fundamentals and High Potential
For traders wary of SOL’s potential overcrowding, there are other smaller-cap altcoins that currently offer significant potential. Notably, several presale tokens have been gaining momentum in preparation for their listings in the New Year.
One such standout is Bitcoin Minetrix (BTCMTX), an Ethereum-based stake-to-mine platform that has raised over $5.6 million in its pending sale. Bitcoin Minetrix aims to make Bitcoin mining accessible to all users with an Ethereum-compatible wallet. By staking its native BTCMTX token, users will receive tokenized mining credits, which can be used to purchase Bitcoin hashing power. In doing so, they earn newly mined Bitcoin (BTC), with the staking of BTCMTX also providing a passive income in BTCMTX.
Bitcoin Minetrix’s innovative approach not only holds the potential for high profitability but also removes many of the barriers that have historically prevented individuals from participating in Bitcoin mining. The platform’s streamlined interface is designed to appeal even to crypto beginners, making Bitcoin mining more accessible than ever before.
With these unique features, Bitcoin Minetrix stands poised to become one of the most significant platforms of 2024. Investors can participate in its sale through the official Bitcoin Minetrix website.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
