{"id":213384,"date":"2023-12-15T19:17:50","date_gmt":"2023-12-15T13:47:50","guid":{"rendered":"https:\/\/dripp.zone\/news\/3-catalysts-propelling-sol-towards-100-crypto-news\/"},"modified":"2023-12-15T19:17:55","modified_gmt":"2023-12-15T13:47:55","slug":"3-catalysts-propelling-sol-towards-100-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/3-catalysts-propelling-sol-towards-100-crypto-news\/","title":{"rendered":"3 Catalysts Propelling SOL Towards $100 – Crypto News"},"content":{"rendered":"

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\nSolana price prediction: SOL comes to a sudden halt at $80, as profit-taking takes center stage ahead of a larger blastoff past $100.\t\t\t\t<\/p>\n

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Published 20 mins ago <\/p>\n

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Solana price prediction: Solana, like many cryptocurrency majors, topped out earlier this week after a persistent rally from mid-October. The crypto market was significantly overbought and needed to cool off before the resumption of the uptrend.<\/p>\n

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Over the past 24 hours,\u00a0Solana price<\/span><\/a>\u00a0gained 8% to trade at $78 on Friday. The smart contracts token is up 9.2% in the last week, 28% in a fortnight, and 32% in a month, not to mention a 460% increase in 12 months.<\/p>\n

Key catalysts have contributed to the soaring Solana price, resulting in euphoria among investors. As traders FOMO and DCA into SOL dips, the uptrend is propped to keep going.<\/p>\n

Although resistance at $80 may lead to a brief sell-off, due to the format of a short-term double-top pattern, sweeping through liquidity allows already sidelined investors to seek exposure, which eventually drives SOL<\/a> towards $100.<\/p>\n

Solana Price Prediction: 3 Catalysts Driving SOL Rally<\/h2>\n

Solana slid below the $70 support mark earlier in the week but support at $65 coupled with the Federal Reserve keeping interest rates unchanged and projecting three rate cuts in 2024, triggered a stronger rebound which narrowed the gap to $80.<\/p>\n

Risk assets like\u00a0Bitcoin<\/span><\/a>\u00a0and Solana benefit the most when fixed-income returns drop.<\/p>\n

Coinbase listing Solana SPL tokens amid airdrop rumors is another catalyst keeping SOL not only buoyant but also bullish. The network is experiencing a surge in the demand for SPL tokens, thanks to their integration with two leading exchanges Binance and Coinbase.<\/p>\n

Jito (JITO) and Bonk (BONK) are some of the ecosystem\u2019s SLP tokens listed by Coinbase on December 7 and 14, respectively.<\/p>\n

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The decentralized finance (DeFi) and non-fungible token (NFT) markets in the Solana ecosystem have also been growing steadily, with data revealing a 12% increase in transactions in just seven days, which towers above other protocols like Ethereum with a 1% drop and BBN chain with a 4% growth.<\/p>\n

The total value locked (TVL) which measures the dollar value of assets locked in Solana smart contracts recently crossed the $1 billion mark from October 1\u2019s 326 million.<\/p>\n

\"Solana