Solana is now touted to take over most of the major cryptocurrencies and rank among the topmost in the blockchain market. The crypto market is in a haywire situation while most of the best-known currencies, such as Ethereum and Bitcoin, are following a downside rally, many new currencies are emerging to replace the positions. Bitcoin investors are currently in a quandary as the world’s most valuable cryptocurrency continues to lose market value.
As BTC’s performance is declining, investors are turning their faces towards some of the major altcoins, including Cardano, Solana, and Ethereum. Although the effect of BTC had a significant impact on the price of altcoins, they are quickly recovering from the major losses.
Solana was known to be one of the fastest-growing currencies in the crypto market in 2021; Bitcoin’s drop severely hit it in value. However, SOL has regained its market dominance and is recovering from its all-time lowest value.
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— Duo Nine | YCC (@DU09BTC) June 28, 2022
How will Solana perform in the next few months?
While crypto investors were hoping for positive movement in the crypto market, Solana emerged as a star. While the evaluation of ETH and BTC demotivated the crypto miners, Sol gave away some rays of hope.
According to the information revealed by the experts, the activities of SOL suggest that its value is about to boom; it is currently consolidating around $34, but soon it is anticipated to cross the level of $40, triggering a bullish move.
Some fundamental activities are backing the technical analysis as Solana is about to launch its crypto exchange platform; we might witness some bullish rally in the altcoin.