Solana to Reach $500 Before 2025 KickStarts – Here’s How

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• Solana-based decentralized exchanges (DEXs) are witnessing high trading volumes fueled by meme coins.
• Owing to this, $SOL is projected to hit $500 by this year's end. Other benefits include being faster and more efficient than Ethereum.
• Still, the value of Ethereum-based meme coins is spiking among Solana's success.

Solana has hit $241, and the ecosystem's DEXs are experiencing a surge in volume following the hype surrounding Solana-based meme coins.

Furthermore, $SOL is poised to reach $500 by the end of this year, owing to its speed and efficiency compared to Ethereum.

If the Layer-1 coin breaks above the $241 level to $292, it would surpass its $291 ATH.

Touching $500M is a steep climb. But, $SOL could easily capture $350-$400 by lifting slightly.

Source: TradingView

Demonstrating the weight of Solana-based DEXs, Raydium has doubled the daily volume of Ethereum-based Uniswap ($3.93B vs $1.45B).

Pump.fun Launchpad Contributes to Meme Coin Success

Behind the surge is the explosive growth of Solana-based meme coins. The pump.fun launchpad has contributed to their breakout success.

Through pump.fun, anyone can quickly spin up a meme coin at minimal cost by simply clicking a button.

Source: CoinMarketCap

The pump.fun ecosystem is valued at an impressive $8.2B, and its 24-hour trading volume is an equally remarkable $4.3B.

Peanut the Squirrel ($PNUT) leads the charge on pump.fun, with a $1.6B market cap. Since listing on Raydium (on November 3) for just $0.075, its value has spiked by a commendable 2,046% to $1.61.

Those that acquired $PNUT at its lowest point ($0.0318) on the open market have bagged a 5,099% return. In addition, they're now sitting on an even more significant return on investment.

Interestingly, to be listed on Raydium, token market caps must be at least $69K. Once achieved, $12K liquidity is deposited on the Solana DEX and burned.

Pump.fun & CoinMarketCap Simplify Meme Coin Searching

Pump.fun has a useful About to Graduate' section that enables crypto investors to find the hottest new projects. The launchpad doesn't highlight token presales or ones that allocate their token profits to team members.

Source: pump.fun

Solana is currently the second most valuable blockchain for running smart contracts. Its proof-of-stake and proof-of-history technologies are valuable scalable solutions for commercial activity (despite meme coins often lacking practical use cases).

Robinhood & Coinbase Boost Solana FOMO

Further boosting Solana's success is Robinhood's decision not to delist $SOL following SEC scrutiny because of it being an unregistered security token.

Additionally aiding Solana's adoption is Coinbase's COIN50 index, which helps institutions (outside the US, Canada, and the UK) to track the crypto market easily.

Solana has a 6% share of the Index. However, its market cap accounts for just 3.56% of the total crypto market. Thus, the 6% is an overweight position compared to its market share.

If a company wanted to replicate the COIN50, it would have to purchase more than the coin's market cap weight.

Interestingly, $BTC has a 50% weight in the Coinbase COIN50 index despite accounting for 59% of the total market.

Solana Strategies & ETFs to Streamline Its Success

Institutional interest in Solana is booming; more financial advisors and asset managers are adjusting their portfolios to put crypto in the 5% for riskier assets.

The next wave of crypto adoption likely won't be driven by crypto-native individuals but by mainstream investors. Ones of which prefer to access digital assets through their existing wealth management and financial adviser relationships.

- Anchorage Digital's CEO, Nathan McCauley

Bitcoin and Solana are top picks for crypto investment portfolios. Those who don't want to hold digital assets directly can check out Sol Strategies, a publicly traded Solana holding company that invests directly in Solana and the network's ecosystem.

Last week, it acquired four validators in a stock and cash deal with Cogent Crypto.

Source: Tony G (X)

As regulations become more transparent, the likelihood of Solana ETFs being approved has risen substantially - especially since VanEck's Matter Sigel said Solana ETFs will soon hit Wall Street.

Sentiment also shifted when the Financial Times reported (on July 26) that VanEck Solana ETFs' success will hinge on the outcome of the US presidential election.

On X, Sigel confirmed that VanEck's $SOL ETF filing was a bet on a Trump victory and that crypto legislation in Washington would also help matters.

Additionally, he said, The odds are overwhelmingly high that there will be a Solana ETF trading by the end of next year.'

Major Crypto Conferences Spotlight Solana Advancements

Further boosting Solana's stance, the Breakpoint 2024 conference recently showcased advancements in the network's ZK compression technology, which aims to reduce data storage costs and enhance scalability.

Firedancer is another game changer for future scalability, as Cryptonews.com reported in an interview with Valkyrie co-founder and Sol Strategies CEO Leah Wald earlier this month.

Additionally, the Solana Radar Hackathon attracted over 10K participants, highlighting the ecosystem's vibrancy and innovative projects.

Meanwhile, the Midwest Blockchain Conference emphasized Solana's popularity among students and industry leaders, focusing on adaptable project development.

An analysis of Solana's decentralization also revealed a strong validator distribution with 4,514 nodes, indicating a resilient network structure.

It addressed network congestion challenges, highlighting strategies for optimizing transaction processing via priority fees.

Pepe Unchained Raises Nearly $36M

The value of Ethereum-based meme coins is spiking among Solana's success.

Pepe Unchained ($PEPU) is the first meme coin to have its own Ethereum Layer-2 blockchain. Its presale, which finishes in 24 days, has nearly raised $36M - there's no time to lose if you wish to contribute.

Pepe Unchained has its own Ethereum version of pump.fun, facilitating easy meme coin creation.

The project is rapidly raising $1M+ every day. Crypto whales can't get enough of $PEPU, as evidenced by a recent $67,319 buy.

$PEPU's price (which is currently $0.012891) increases every 12 hours, making now an opportune time to buy.

Anyone who doubts the Pepe brand's pulling power should check out this X post by Elon Musk yesterday.

Source: Elon Musk (X)

Crypto All-Stars ($STARS) is another meme coin worthy of attention. Its ecosystem has its own concept for unified meme coin staking.

Meme coin fans can stake their tokens on the MemeVault Network and hold $STARS to maximize returns.

$4.2M worth of $STARS has already been acquired on presale. One token costs just $0.0015806 until its price goes up in three days. One whale alone just acquired $21,714 $STARS.

Another boon in the meme coin arena is Flockerz ($FLOCK) - the first meme coin entirely run by its token owners, thanks to its Vote-to-Earn mechanism.

Community members can guide the project by voting on proposals in return for rewards. It's no wonder the presale has already garnered $2.2M.

FreeDum Fighters ($DUM) is also drawing attention in the Vote-to-Earn landscape. It's a PolitiFi-focused coin that's raised more than half a million dollars for its innovative political campaign trail and tongue-in-cheek memeification.

All of these tokens are available to buy on presale via the Best Wallet app.

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