Crypto: Solana at $180? Here are 4 reasons that could trigger a bull rally!
The volatility of cryptocurrencies spares no one, and Solana (SOL) is no exception. After hitting a low of $125 on February 28, the native token of the Solana blockchain saw a rebound of 17%, hinting at a possible return to $180. However, this recovery is far from guaranteed. Still down 50% from its all-time high of $295, SOL faces several obstacles that could hinder its rise. Between the slowdown in its on-chain activity, the lack of demand in the derivatives markets, and the concentration of transaction fees in the hands of a few users, the Solana ecosystem is wobbling. What are the signals that could trigger a bull rally?