Solana's On-Chain Data Paints Bullish Picture Ahead of Year-End

Solana's on-chain data suggests that reaching $140 per SOL by year-end is possible, but several factors need to be considered. According to recent analysis, Solana's current price of around $120 per SOL is still a significant distance from the target.

The analysis looked at various on-chain metrics, including Solana's token velocity and wallet balance growth, and concluded that they indicate a strong potential for further price increases.

However, it's essential to note that reaching the $140 target will depend on several factors, including market sentiment, regulatory developments, and the overall performance of other cryptocurrencies in the space.