Solana Set To Rally With These Altcoins After 300% Pump In 60 days: Is It The Best Crypto To Buy Now?

Currently, Solana (SOL) is the talk of the crypto community among traders. In just 60 days, it has skyrocketed by an impressive 300%, currently sitting at $186.86. However, over the past month, there’s been a 12.98% decline. The question now is: Will Solana regain its bullish momentum and reach $500, or is this dip indicative of a larger correction?

In the rough seas that Solana is sailing, other digital currencies such as Cardano (ADA), Tron (TRX), and Ethereum (ENA) are making their mark as promising options for investors seeking to capitalize on the next surge of expansion. Let’s delve into the potential of these top-tier altcoins.

Solana (SOL): Can Bulls Push SOL To $285?

It’s quite remarkable that Solana’s price surged by 300% within just 60 days, given the unstable conditions prevalent across the broader cryptocurrency market. The market has been experiencing turbulence primarily due to Bitcoin‘s (BTC) volatile pricing, which in turn impacts all other altcoins. However, Solana has skillfully maintained its position among the leading altcoins by successfully capturing a significant portion of Ethereum users with its low transaction fees and swift processing speeds.

However, Solana’s path hasn’t been without bumps. On January 12, 2025, its price dipped below $190, representing a 12% decrease over a span of four days amidst a broader market adjustment. This downturn coincided with Bitcoin assessing the $92,000 support level. The fall was intensified by significant whale activity; one such whale divested and moved a substantial amount of SOL to Binance. This action might suggest selling off after a robust 2024 performance.

The behavior of whales significantly influences the price fluctuations of Solana. Examining the blockchain data reveals that major investors, who hold a substantial share of Solana’s circulating supply, have been adjusting their positions. Over the last seven days, the number of whale wallets holding 10,000 or more SOL has grown from 5,025 to 5,098, suggesting a possible increase in investor trust.

Institutional Interest And ETF Approval

The enthusiasm towards Solana among institutions has been on the rise, and it’s predicted that an ETF focused on Solana might be authorized in 2025, potentially sparking a fresh surge of buying activity. An ETF offers traditional investors an opportunity to invest in Solana without needing to use cryptocurrency exchanges, thereby making it more approachable for mainstream investors. While the specific timeline for ETF approval remains uncertain, there’s strong optimism that this will occur under the crypto-friendly Trump administration. Analysts concur that such a move could significantly impact Solana’s price and potentially drive it up to $500.

As a crypto investor, I’m excited about the positive outlook on Solana from a top analyst at Crypto General. He believes that Solana is experiencing a normal correction following its recent surge, which he thinks will lead to a substantial rally. He anticipates a shift in market sentiment due to broader economic conditions and significant events, potentially pushing the price of Solana up to an estimated $285 soon.

Altcoins To Rally With Solana

After a recovery, Solana is once again active, and certain other cryptocurrencies are also showing signs of movement. Experts are keeping an eye on projects such as Cardano (ADA), Ethereum (ETH), EOS, and Ethena (ENA) to see if they will follow in Solana’s footsteps.

Cardano (ADA): ADA To Break $2 Soon

The digital currency known as Cardano (ADA) has surpassed the $1 mark, with our forecast pointing towards ADA reaching $2 in the near future. Despite encountering some challenges, Cardano continues to advance, and interest in Decentralized Finance (DeFi) is increasing. Its robust foundations and scalability make it a promising candidate for future growth.

Cardano’s advancement is consistent, with the upcoming CIP-113 expected to bolster the functionality of programmable assets and security aspects. This reassurance boosts investor trust and could propel ADA in Decentralized Finance (DeFi).

Based on Coinglass’ analysis, Binance traders are exhibiting a robust optimistic outlook towards ADA as 79% of them currently hold long positions. The ratio of ADAUSDT long to short trades is at 3.75, and open interest has increased by approximately 9.89% over the past day. Bulls have amplified their long positions worth $22.4 million at around $0.908, while short sellers hold positions totaling $3.87 million near $1.02. This data suggests that the market is optimistic about ADA’s potential price growth.

Anticipating advancements in U.S. cryptocurrency regulations and Cardano’s enhanced scalability through the Hydra update creates a favorable atmosphere for ADA’s development. This progress is likely to attract more users to the Cardano platform, increase transaction volume, and ultimately boost the token’s value.

As a researcher, I’m anticipating that the price of ADA could range from $5.0 to $10.0 by the year 2025. On a positive note, the immediate resistance level is at $2.11. If we manage to surpass this barrier, it might signal a resurgence of bullish trends.

Tron (TRX): TRX To Hit $0.40 Mark

Established by the dynamic Justin Sun, Tron has carved out a niche within the decentralized finance (DeFi) sector. Renowned for its impressive transaction speed and affordable fees, Tron serves as an ideal platform for developers to experiment and innovate in the blockchain world. The TRX token that underpins this system has been steadily increasing in value and is a prime interest for DeFi investors.

Over the past month, the TRON network has seen a significant surge, earning approximately $330 million – a notable 39.7% rise compared to the previous month. Over the last 90 days, this figure adds up to an impressive $764.11 million in total revenue. This spike in network activity indicates a thriving ecosystem for TRON, making it a potentially promising investment opportunity.

The price of TRX token has climbed up to $0.27, representing a 3.85% growth. Experts believe this upward movement will persist, and some predict that TRX could hit $0.40 in the near future. Dave Crypto also suggested that TRX might potentially reach $10 in the long run. With TRX currently at $0.40, an initial investment of $1,000 would yield approximately $500 in profits, making it a promising time to engage in trading.

Ethena (ENA): 20-30% Increase

As an analyst, I’m excited to share that I’ve been closely following the impressive performance of Ethena ($ENA) in the DeFi sector. Notably, Grayscale Research has included ENA in their list of top 20 cryptocurrencies for Q1 2025. This endorsement from a reputable institution underscores the growing credibility and potential of this project.

Centering on enhancing blockchain capacity and reliable stablecoin distribution, Ethena stands out as an innovative utility project that appeals to forward-thinking investors seeking long-term growth opportunities.

Viewing it technically, Ethena seems poised at a significant resistance point. If this level is maintained, it could lead to a substantial price increase. Given the optimistic market mood, rising transaction volumes, and institutional endorsement, Ethena appears primed for a significant surge.

It’s anticipated that Ethena will see a significant boost of around 20-30% soon, with some predictions even placing it among the leading altcoins by 2025. The planned updates to its protocol and prospective strategic collaborations could potentially fuel this projected growth.

The World Liberty Financial DeFi project under President Trump’s leadership has backed Ethena; this significant endorsement underscores institutional trust and credibility. With its expanding stablecoin protocol, Ethena is poised for growth in 2025, making it an attractive choice for investors in the DeFi sector.

Conclusion

To put it simply, Solana exhibits short-term volatility but appears robust over the long term. The activity of large investors (whales), increasing institutional interest, and potential approval of a Solana ETF could boost its price significantly in 2025, especially under a favorable crypto environment led by a Trump administration. Furthermore, Solana is expected to be joined by Cardano, TRX, and Etherna as strong altcoin performers. As always, it’s crucial for traders and investors to keep an eye on key price levels and market trends when making decisions.

2025-01-13 13:24