Analyst and crypto investor Daniel Cheng believes that the cryptocurrency market may enter a new growth phase (also known as a bull market). He suggests that the forthcoming bull run might even surpass that of 2021. One of the most interesting players will be Solana. According to the expert, the blockchain is likely to outpace Ethereum, and the SOL token could reach the $1000 mark by 2025.
Cheng also outlined factors that could potentially lead to the growth of Solana (SOL)
- The legalization of cryptocurrencies and a shift in regulatory policies in the U.S. under the Trump administration towards a more favorable approach.
- The launch of an ETF for Solana. The introduction of an exchange-traded fund based on SOL in the first quarter of 2025 will open up this asset to traditional market investors.
- A mass influx of new investors due to increased attention towards cryptocurrencies, which could lead to higher trading volumes and a price surge for SOL.
- The potential inclusion of Bitcoin in the U.S. national reserve will also stimulate overall interest in cryptocurrencies.
Additionally, Coinbase has launched the cbBTC token pegged to Bitcoin on the Solana blockchain. The integration of this asset on the Solana platform opens up additional possibilities for users within decentralized finance protocols (DeFi) such as Kamino Finance, Raydium, and Jupiter.
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