#Solana #SOL #Cryptocurrency #CryptoInvesting #CryptoMarket #BullRun #DigitalAssets #CryptoAnalysis
The broader cryptocurrency market is currently witnessing an upswing with Solana (SOL), the digital asset, reflecting the trend with over 60% growth in just the past month. As per a post on X by cryptocurrency analyst Ali Martinez on December 7, investors interested in potential price targets for SOL may find useful insights. Major factors for SOL’s bullish momentum include a sustained closing above $68.2 and maintaining support at $60, which are propelling it towards the $90 threshold. The latest data reveals that Solana has surpassed this predicted range, indicating a strong bullish momentum for the near future.
Further, recent data from Step Data Insights on December 9 shows SOL has also recorded bullish metrics in the past 24 hours, with its total value locked (TVL) increasing notably from $600 million to $833 million. Bestowing the emerging popularity of SOL token, its rapid price increase has surpassed even $70 and currently hovers around $77 each. This marks a significant over 500% increase since the beginning of this year. With witnessing TVL increase to approximately $670 million as of December 5, according to data from DefiLlama and anticipated entry into the cryptocurrency spot ETF competition by 2024 by investment firm VanEck, Solana’s recent surge and future prospects are being closely watched by traders and investors alike.
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