The continuing Bitcoin-led rally has been taking totally different turns. Whereas Bitcoin (BTC), the world’s largest cryptocurrency, managed to safe a brand new all-time excessive, Solana (SOL) may very well be following swimsuit. The altcoin’s market cap was additionally seen rising. Not solely did SOL take over Binance Coin (BNB), but it surely has additionally managed to surpass Airbnb. Solana’s market cap is $93.75 billion, whereas Airbnb’s worth stands at $93.20 billion.
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Can Solana Report A New Excessive This Month?
Final yr, the Solana community shocked the complete market with its soar from a low of $41 above $200. The asset may very well be mirroring an analogous sample. This week, Solana went from a low of $155 to a excessive of $200. The asset rose by almost 20% over the previous seven days. At press time, SOL traded at $197.72 following a 5.23% rise over 24 hours.
A number of imagine that the asset’s newest rise is linked to the opportunity of a Solana ETF’s debut sooner or later. Though some optimism is driving up the worth of Solana, the timing continues to be too distant to have a big impact on the current value.
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November Worth Prediction
It seems just like the asset will seemingly expertise a slowdown this month. SOL hit an all-time excessive of $260 about three years in the past. The asset at the moment trades 23% under this peak. Whereas $300 looks like a big value degree for SOL, CoinCodex was barely bearish this time.
In response to knowledge from CoinCodex, the utmost value that SOL will commerce at this month is $227.38. The typical value of Solana will stay round $210. The bottom that SOL will dip to is its present value degree of $197. Different components, like the general development of the cryptocurrency market and bullish information for the business, might enhance the worth of Solana.
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