Solana price rose 1% over the past 24 hours to $40.70 amid a 0.5% decline in the cryptocurrency market.

SOL is currently up 11% in a week and an impressive 73% over the past 30 days, while the altcoin is also up over 300% since the start of the year.

Such performance has allowed SOL to surpass Cardano (ADA) in terms of market capitalization, and as the Solana blockchain continues to grow steadily this year, the altcoin may see more gains in the near future.

Solana Price Prediction – 10x Potential as SOL Overtakes Cardano?

Although the market has slowed somewhat over the past few days, Solana is still showing good momentum.

In particular, its 30-day EMA (yellow) is moving above the 200-day EMA (blue) as the coin experiences greater buying pressure, and its trading volume suggests as much.

Although SOL's Relative Strength Index (purple) has dipped slightly over the past few days, it remains at 70, which also suggests momentum is continuing.

Likewise, the coin’s medium-term support level (green) has been rising steadily in recent weeks, while short-term support levels have climbed significantly.

So even if SOL dips slightly with the market today, it's unlikely to drop much.

However, there is evidence that the price may be heading lower, with transfer data showing that at least one whale has moved a large amount of SOL to the exchange in the past few hours.

In the longer term, SOL holders may also want to keep an eye on FTX, with the failed exchange gaining permission in September to liquidate its remaining cryptocurrency holdings (worth over $3 billion).

That includes Solana, which is worth more than $1 billion, but it's worth noting that most of those supplies have maturities of more than a year.

Therefore, SOL shouldn't take any major hits for some time, and its fundamentals will point to steady price increases over time.

In fact, Solana is performing well in 2023, with about 8 months of uptime, after experiencing an outage in 2022.

It has also received some major adoption news, with Visa adding its blockchain to its stablecoin pilot in September.

Based on these factors, Solana price will continue to rise in the near future and may reach $50 by the end of the year.

New altcoins with strong fundamentals

SOL may be one of the best-performing major coins this year, but it’s not the only alternative with high return potential right now.

There are also various new tokens on the market, and several of the pre-sale tokens have the potential to rise significantly once they are listed on the exchange.

The strongest candidate is Bitcoin Minetrix (BTCMTX), a tokenized cloud mining platform that has raised more than $3.6 million since its presale began a month ago.

What’s interesting about Bitcoin Minetrix is ​​that its platform allows users to stake their native BTCMTX tokens in order to indirectly mine actual Bitcoins.

This is accomplished by providing BTCMTX stakers with tokenized mining points proportional to their staked amount, which users can use to purchase mining time.

If they spend enough points, they will receive mined BTC in return, and BTCMTX stakers will also receive new BTCMTX tokens.

Therefore, Bitcoin Minetrix is ​​likely to be highly profitable for its users, which is why its pre-sale was a huge success.

New buyers can participate in this promotion by visiting the official Bitcoin Minetrix website, where 1 BTCMTX sells for $0.01150.

This price will rise to $0.01190 by the tenth and final phase of the sale, when Bitcoin Minetrix will be launched and BTCMTX will be listed on the exchange.

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