- Solana’s recent price surge reflects growing institutional interest and a shift away from the traditional Bitcoin-then-Ethereum cycle.
- Institutional inflows, including potential ETF approvals, could drive Solana’s price to as high as $335 per token.
- Analysts predict a multiplier effect for Solana, with $1 billion in institutional capital potentially adding $15 billion to its market cap.
Solana’s price has been on a steady climb despite Bitcoin’s recent sideways movement. While Bitcoin remains stuck between $113,000 and $123,000, Solana’s upward momentum is catching the eyes of institutional investors. Recently, SOL traded close to $210, up from around $190, with expectations rising. This increase in price highlights a growing trend: institutional capital is increasingly directed toward Solana, possibly bypassing Bitcoin and Ethereum in the process.
Wall Street’s Shift Toward Solana
Over the years there was a trend among institutional investors where Bitcoin and Ethereum were the first to experience market inflows, followed by altcoins such as Solana. But recent reports indicate that Wall Street is changing strategy. Solana now appears to be the center stage, and analysts expect huge capital inflows. The possible registration of Solana exchange-traded funds (ETFs) in the middle of October, along with a large-scale acquisition of Solana by digital asset treasuries, will probably catalyze this trend.
According to market analyst Ran, the approval of Solana ETFs and institutional treasury buys could trigger a multiplier effect. Similar to Ethereum’s 15x impact from ETF and treasury inflows earlier this year, Solana could see an explosive increase in value. If $2.5 billion in institutional capital flows into Solana, the coin could reach $274 per token. A larger influx of $5 billion could push the price closer to $335, a significant rise from its current valuation of approximately $130 billion.
Solana’s Potential to Lead the Next Market Rally
Although Ethereum is yet to hit its historic peaks, Solana is already showing that it does not have to wait until Bitcoin or Ethereum explodes. The price of SOL has been resilient in that the support level is around 200 and the resistance around 230. In case Ethereum finally overcomes all of its resistance and Bitcoin finds its ground, Solana might take the lead in another cryptocurrency boom.
