Solana Price Prediction: Network Growth Fuels Bullish Outlook
As Solana's price holds at $103, analysts are bullish on its future prospects. According to Ali Charts, a new leg up has begun for Solana, targeting $150. This prediction is based on the network's growth, with an average of 9.5 million new addresses per day over the past week.
The number of wallets holding at least 10,000 SOL rose by 1.58%, while exchange supply fell by 4.91% after users withdrew approximately 2.6 million SOL. This increase in network participation and decrease in available tokens could amplify price gains if ETF demand continues.
However, the derivatives market shows a cooling effect, with trading activity falling by 23.31% to $7.76 billion. Open interest also dropped by 2.84% to $6.57 billion, indicating that traders are closing some existing positions instead of placing new bets.