Solana (SOL) has seen a nearly 30% rise over the past month, and experts predict it could reach new all-time highs. This is linked to notable growth predictions in the cryptocurrency market.
Price Growth of Solana
Solana (SOL) is enjoying support from growing investor interest, which, according to Bitwise Chief Investment Officer Matt Hougan, may lead to explosive growth by the end of this year. Hougan claims that all the necessary 'ingredients' for repeating the successes of Bitcoin and Ethereum are falling into place.
Financial Instruments and Investments
Recently, several major issuers, including Bitwise, Grayscale, VanEck, Franklin Templeton, and Fidelity, have filed to launch spot ETPs for Solana. Approval for these applications is expected by October 10, 2025. If granted, active fund inflows could begin in the fourth quarter. Moreover, Galaxy Digital, Jump Crypto, and Multicoin Capital have pledged $1.65 billion to fund Forward Industries, a company tasked with buying and staking SOL to generate yield.
Fundamental Advantages of Solana
Solana is positioned as a high-throughput, low-cost blockchain able to handle tokenized assets and decentralized finance applications at speed. A recent technical upgrade has reduced transaction confirmation time to 150 milliseconds, making it one of the fastest blockchains worldwide.
Thus, considering the growing investor interest and the platform's fundamental advantages, Solana (SOL) could emerge as a key player in the cryptocurrency market by the end of 2023.
