Institutional interest in Solana (SOL) has been increasing recently and this is positively reflected in the price.
At this point, analysts say that the Solana rally is just beginning, indicating that it has just begun.
Solana (SOL) Could Reach $700!
Speaking to DL News, Philippe Bekhazi, CEO of cryptocurrency trading firm XBTO, claimed that Solana could reach $700, driven by ETF expectations and a Trump-driven rally.
The famous CEO said that investors will most likely turn to Solana out of fear of missing out, and as a result, the price will rise to $700.
“The Solana bull is just getting started. Bullish factors include positive macroeconomic trends, increasing user activity, and the upcoming US spot Solana ETF from firms like Bitwise and VanEck.
For these reasons, SOL could even surpass Ethereum in total value in the main bull rally.”
In line with this forecast, Standard Chartered analysts also predict that Solana could approach $700 by the end of 2025.
Geoffrey Kendrick, head of global digital assets research at Standard Chartered, also said the spot Solana ETF is more likely to be approved under the Trump administration.
Solana, which rose to $262 during the day, is still trading at $255 at the time of writing.
*This is not investment advice.