AI Chatbot ChatGPT from OpenAI has predicted a huge price movement for the Solana (SOL) cryptocurrency, indicating an 8x price rise for the token from its current price level.
Solana will reach $1,000 by 2024
ChatGPT believes that Solana is well positioned for an uptrend, and is expected to reach the $1,000 mark by 2024. The robot’s predictions result from positive market developments and the wide use of the crypto blockchain. cash.
The robot was also seen predicting that the price of SOL could reach $1,000 by the end of 2024. This is due to the cosmic rise of innovations and their widespread adoption.
Solana, powered by a cosmic surge of innovation and widespread adoption, could potentially reach a stellar price of $1,000 by the end of December 2024.
ChatGPTThe outlook looks promising due to several recent factors driving cryptocurrency growth. Cryptocurrency blockchain has recently attracted significant interest from the cryptocurrency community.
Its excellent performance, minimal transaction costs, and scalability have attracted a growing number of users and developers. This triggers increased adoption of Solana-based innovations, positioning the digital asset for potential price increases.
Furthermore, the increase in demand for crypto assets for leveraged long positions could also support this prediction. SOL reached its highest futures opening level since this is a record level price of $260 in November 2021.
Demand for the cryptocurrency is expected to increase as the Solana ecosystem grows, driving up the price of the asset.
The crypto asset Total Value Locked (TVL) is not left out. Solana’s TVL has recently seen a significant increase in TVL. Its TVL was valued at around $409.68 million, but now at $584.59 million, an increase of over 42%, according to DefiLlama.
Current Market Trend Leads to Increase in Cryptocurrency Prices
Another factor that could propel the the price of the asset This is the current bullish sentiment in the cryptocurrency market. Without a doubt, Solana has been the most bullish large-cap cryptocurrency on the market this year.
SOL has increased by approximately 550% since the start of 2023. This places it at the fifth position among the top 100 cryptocurrencies in terms of performance.
Last week, GROUND saw a significant price rise, reaching its yearly high of $68. Due to the general market sentiment, Solana price could thrive in this favorable atmosphere.
Currently, the crypto asset is trading at around $60 at the time of writing, indicating an increase of 0.21% in the last 24 hours. Its market capitalization is currently valued at $25,435,629,906, indicating the same percentage increase over the past 24 hours, according to CoinMarketCap.
Featured image by iShock, chart by Tradingview.com