Recently, the price trend and technological dynamics of Solana have drawn market attention. Currently, the price of Solana is $144.30, having dropped by 1.5% over the past 24 hours and by 3% this week. However, it still has a 21% increase over the past month, making it relatively stable among the sixth-largest crypto assets by market capitalization.
It is worth noting that the announcement on the Solana Foundation’s official website shows that they quietly fixed a critical vulnerability last month. This vulnerability was submitted by an anonymous white hat on April 16th and only affects token-22 type privacy tokens. If attackers exploit this vulnerability, they can perform unauthorized operations such as unlimited Token minting or extracting assets from any account. The Solana development team responded promptly. On April 17th, they released the first fix patch, and on April 18th, they deployed the second patch, successfully plugging the vulnerability and stabilizing the network.
Although the vulnerability fix is good news, some commentators, especially supporters of the Ethereum camp, have questioned that the fix process was too quick and confidential, raising questions about the degree of decentralization of Solana. Affected by this, and with the overall crypto market pulling back by 3% today, the price of SOL dropped, but the decline was smaller than the market average.
From the perspective of technical indicators, the daily chart shows that SOL may still have room to decline in the short term, but its medium and long-term trend is optimistic and it is expected to rebound strongly. For instance, the Relative Strength Index (RSI) began to decline after approaching 70 at the end of last month, indicating a weakening short-term momentum. However, before a slight rebound in April, the index had been in the oversold zone for a long time, suggesting that there is still room for a rebound. Since the end of February, the 30-day moving average of SOL has been operating below the 200-day moving average, forming a “gold counterattack” momentum accumulation pattern, indicating that the upward trend has been gathering momentum for a long time.
Based on the above analysis, SOL is expected to challenge the $200 mark in the middle of this summer. If the macro market environment improves, such as the current tariff war and other geopolitical risks are alleviated, SOL may even have the opportunity to break through $400 by the end of the year and set a new high. Meanwhile, some technical predictions also indicate that SOL may reach $187.45 by the end of 2025.
The development of the Solana ecosystem also provides certain support for its price. For instance, the Meme Coin launch pad Pumpfun on Solana earned $294 million in the first four months of 2024, surpassing Ethereum’s $249 million. Its transaction volume reached 10.41 million, with a transaction volume of $952.3 million, highlighting the surge in network activity on Solana. It may have a significant impact on the future value of SOL. Furthermore, as the first Layer 2 network in the Solana ecosystem, the Solaxy project focuses on lower transaction fees and faster confirmation speeds. Currently, the pre-sale fundraising has reached as high as 33.4 million US dollars. It is expected to inject strong scalability into the Solana ecosystem after its launch, thereby driving up the price of SOL.
However, the current cryptocurrency market is still in a period of volatility. It may take some time for the Solana price to fully explode. Investors should closely monitor market dynamics and make decisions with caution.
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