Ethereum & Solana Surge: ETH Eyes $7,900, SOL Targets $400
Ethereum (ETH) and Solana (SOL) have surged in recent weeks, with both cryptocurrurrencies gaining over 12% since early October. Positive social sentiment, institutional appeal, and stablecoin issuance have driven their prices upwards.
Ethereum is eyeing a price target of $7,900, but must first break through the $5,000 zone. High DEX volume and ongoing accumulation in ETH are supporting its price movement. Meanwhile, Solana is aiming for a new peak above $300, with a target of $400 gaining traction. Its speed and finality make it appealing to institutions, with $1.2B in stablecoin inflow signaling accumulation.
Social sentiment on platforms like X (formerly Twitter) and Reddit is positive for both ETH and SOL. Engagements on the Ethereum daily thread on Reddit are rising, indicating growing interest in ETH. NFTs on Solana are also making a comeback, with the top 8 NFTs built on Tensor up by more than 15%.
Institutional interest is evident for both cryptocurrurrencies. Solana has been supported by various institutions, with notable involvement from FalconX through record-high treasury inflows. The Solana Foundation also plays a crucial role in promoting the ecosystem's development and innovation.
Ethereum and Solana have shown significant momentum in recent weeks, driven by positive social sentiment, institutional appeal, and stablecoin issuance. Both cryptocurrurrencies have price targets in sight, with ETH aiming for $7,900 and SOL eyeing a new peak above $300. As interest and accumulation continue, these cryptocurrurrencies could maintain their upward trajectory.
Read also:
- Unveiling the Less-Discussed Disadvantages of Buds - Revealing the Silent Story
- Grid Risk Evaluation Strategy By NERC Outlined, Focusing on Potential Threats from Data Centers
- Rapid Expansion in Organic Rice Protein Market Projected at 15.6% Through 2034
- Jaguar Land Rover's Month-Long Production Halt After Cyber Attack Could Cost Billions
