Recent developments in the cryptocurrency market, particularly regarding the SOL token, have sparked active discussions among traders and analysts. Key factors include rising decentralized exchange volumes and corporate treasury investments.
Price Dynamics of SOL and DEX Volumes
The SOL token faced a sharp rejection after testing the $250 level; however, it gained 24% over the last month, supported by increased on-chain activity. In September, Solana surpassed Ethereum to become the leading blockchain for DEX trading, processing $121.8 billion in volumes, about 90% higher than BNB Chain.
Corporate Reserves as a Demand Factor
Recent corporate treasury activities have significantly boosted demand for SOL. For instance, Forward Industries raised $1.65 billion to acquire SOL for its reserves. Pantera Capital also announced the launch of a new treasury instrument backed by SOL worth $500 million.
Prospects for SOL Growth to $300
Considering the increased DEX volumes and the accumulation of SOL by treasury-focused firms, traders are discussing the potential for growth to $300. This would give Solana a market capitalization of $163 billion, which still represents a 70% discount to Ethereum’s valuation, making this scenario plausible in the near future.
Thus, the activity on decentralized exchanges and corporate investments create a solid direction for future SOL growth, raising hopes for new price milestones.
