Solana (SOL), one of the cryptocurrencies hit hardest by the FTX collapse, is showing signs of recovery. After seeing its Total Value Locked (TVL) plummet over 90% in 2022, SOL has experienced a significant comeback over the past year.
Currently, SOL is up over 6% daily and 15% monthly, with a price increase of over 385% since February 2023. This raises the question: can SOL make you a millionaire in 2024?
Predictions differ:
- Changelly: SOL could reach a maximum of $130.13, requiring an investment of $852,839.46 for a million dollars worth of SOL, potentially yielding a 17.2% return.
- Telegaon: SOL could reach a maximum of $165.16, requiring an investment of $671,954.46 for a million dollars worth of SOL, potentially yielding a 48.8% return.
Beyond these predictions:
- A potential bull run fueled by Bitcoin’s (BTC) halving and a possible spot Ethereum (ETH) ETF could further boost SOL’s price.
- Bitcoin’s recent reclaiming of the $55,000 level, last seen in late 2021, might influence other assets like SOL, potentially leading to even higher prices.
Important to remember:
- Investing in crypto involves inherent risks. Do not consider this financial advice, and conduct your own research before making any investment decisions.
- The information provided is based on current predictions, and the actual outcome may differ significantly.
