The Solana (SOL) market recorded a volatile 12 months. The asset went from trading at a low of $83 at the beginning of the year all the way to a new peak of $263.83 in November. The altcoin’s yearly gains stand at nearly 90%. Along with this, the asset even rose to become the third-largest cryptocurrency in the month of November. While the community’s dreams of SOL surging to $300 were shattered, the asset is expected to have a bullish start to 2025.
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Solana’s Price Remains Below The $200 Level
Solana is currently 28% below its all-time high of $263. During the time of writing, SOL was trading at $188.87, following a 0.57% drop over the past 24 hours. The asset managed to surge to $201 last week, but SOL also dropped to a low of $182. This marks a major downfall from its peak.
This decline comes despite a recent filing. A Solana futures exchange-traded fund (ETF) that would issue securities that follow the price movements of underlying SOL futures contracts trading on an exchange licensed with the CFTC was filed for by Volatility Shares. Since no similar contracts have been filed, this is encouraging for the prospects of spot Solana ETFs being permitted sometime in 2025.
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January 2025 Price Prediction
In order to reach $400, Solana will have to rise by 111% from its current price level. This seems like a far cry considering the rather slow pace the altcoin has been moving over the past couple of weeks.
According to data from Changelly, the value of Solana is expected to remain over $224.86 in January 2025. During the month, the asset anticipates a maximum high of $228.37. In addition, it is expected that the average trade value will be around $226.62.
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