SOL price prediction: is $500 likely if institutional DeFi investment accelerates

Solana’s price has reclaimed support above the $150 resistance line in a move that has sparked bullish Solana price predictions, with some setting their targets as high as $500 per SOL.

Solana’s DeFi ecosystem is expanding rapidly as inflows reach a mouth-watering $9.44 billion.

Should Solana sustain bullish sentiment at its current price, an uptick toward $200 can materialize.

However, some analysts are pointing out SOL’s bearish signals as it consolidates while suggesting other altcoins may be set to run in the meantime. 

Solana price predictions forecast a bullish outcome

SOL’s price hitting around $174 was a notable 14.3% uptick from the month prior, adding to a paltry 2.9% price increase on its year-to-date chart.

After a downturn of over 66% from January’s highs close to the $300 price mark, SOL is now consolidating after a breakout from a falling wedge pattern. 

Image Source: coingecko

Solana’s price has established support just above the $150 zone, which previously acted as resistance.

Market watchers are pointing out SOL’s bullish outlook following weeks of consistent growth that have drawn attention to the layer one blockchain network. 

Bullish Solana price predictions have seen investor FOMO increase.

Just recently, SOL Strategies filed a $1 billion prospectus for Solana investments in a move that highlights investor confidence in Solana’s ecosystem.

SOL Strategies plans to enable flexible access to capital for future investment opportunities on Solana’s network. 

MetaMask is also integrating Solana in a historic move that enables users to access and manage assets on Solana’s network without leaving MetaMask’s browser.

This is the first time MetaMask is integrating a blockchain network apart from Ethereum’s EVM.

In response to the announcement, SOL’s price surged 6%, signaling Solana’s undeniable capacity to lead DeFi.

Analysts setting bullish Solana price predictions are also looking at the network’s booming activity, with Solana’s DeFi ecosystem nearing $10 billion in TVL.

Solana now ranks as the second-largest DeFi blockchain with 4.35 million active addresses compared to Ethereum’s 425,136.

Among non-EVM blockchain networks, Solana controls over 42% of the market with a DeFi TVL of $9.34 billion.

Image Source: Defillama

Remittix’s RTX presale supercharges interest in Ethereum’s ecosystem

While bullish Solana price predictions emerge, a novel PayFi protocol on Ethereum’s network is reigniting interest in Ethereum’s ecosystem.

Remittix is a cross-border payment platform on the verge of reinventing its entire sector through a straightforward and intuitive approach. 

Remittix is built to solve real-world problems, greatly deviating from the hype cycles of most meme coins in Solana’s ecosystem.

With Remittix, crypto holders can send funds to a recipient’s bank account across more than 30 fiat currencies.

Remittix also caters to small businesses, who can use Remittix’s Pay API to facilitate seamless crypto-to-fiat transactions.

What makes Remittix stand out from the competition is its focus on simplicity. Recipients are protected from the complexities of crypto wallets, which makes Remittix’s platform ideal for mass adoption.

Also, all transactions come at a flat fee, making Remittix easily accessible to everyone, no matter what their economic status is. 

With nearly 540 million RTX tokens sold and only 50% of RTX’s total supply of 1.5 billion tokens available for grabs during the presale, analysts are predicting a 3,000% uptick for RTX that could rival even the most bullish Solana price prediction. 

Discover the future of PayFi with Remittix by checking out their presale here:

Website: https://remittix.io/ 

Socials: https://linktr.ee/remittix 

The post SOL price prediction: is $500 likely if institutional DeFi investment accelerates appeared first on Invezz