Ethereum Layer-1 competitor Solana (SOL) has been on a strong price rally registering nearly 70% gains over the last month. At press time, the Solana price is up by another 3.55% trading at $32.54 with a market cap of $13.601 billion.
SOL Price Rally
With this, the Solana price has also surged past its July 2023, setting up the stage for bigger rally going ahead. If the SOL price gives a daily close above $32, the immediate levels on the upside would be $40 and further going beyond it to $50.
Regarding this issue, a prominent cryptocurrency analyst known as the “Titan of Crypto” has shared insights into the expected price ranges for Solana in the coming months.
Based on the comprehensive analysis by the Titan of Crypto, SOL is poised to target a price range spanning from $69 to $123. These forecasts illustrate the positive sentiment surrounding Solana’s future performance and its potential in the market.
The Solana price rally comes amid a strong push in the altcoin market over the last week. Besides, the recent rally has also helped the Ethereum competitor become the seventh-largest cryptocurrency by market cap toppling the likes of Cardano and Dogecoin over the last month.
Solana Key Developments
Solflare, a well-known Solana wallet provider, has unveiled a new capability enabling MetaMask users to effortlessly oversee their Solana holdings within their current MetaMask wallet. This integration represents a notable development in the cryptocurrency space, as it establishes a connection between Solana and Ethereum, lowering entry hurdles for the Solana ecosystem and enhancing user convenience.
On the other hand, the Solana blockchain continues to be a preferred destination for the Web3 platforms to launch their projects. Web3 social media and community-building platform DSCVR announced its launch on the Solana blockchain on Wednesday, October 25.
With a user base of more than 200,000 individuals, 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. Additionally, DSCVR has tailored its content and user interface to revolve around Solana, offering a dedicated social networking platform for the Solana community.
