Solana was worth only around $60 in the previous year at this exact time, but its current momentum pushed it over $200 in just a few weeks since the BTC rally.
To be specific, SOL is up by 39% in the last thirty days alone and its low transaction fees and scalability seem to be the primary drivers.
With the holiday season just around the corner, we might see another rally in the market - especially if BTC continues its post-election trajectory.
There’s also a new project called PlutoChain ($PLUTO) that could draw whale attention with its hybrid Layer-2 blockchain. This project might be the missing piece for BTC’s network and could help it increase its functionality with added smart contracts.
Let’s check out the details.
Solana Puts a Target on the $1,000 Price – But Is It Possible?
One recent milestone for Solana is that it surpassed $100 billion in DEX trading within a single month. The record came in November 2024 and marked a 100% increase over the previous months’.
The altcoin went from merely an Ethereum competitor to nearly doubling Ethereum’s DEX trading volume of $55 billion during the same period.
Solana is now accepting payments from over 90 million merchants globally. Its impressive transaction speeds, low fees, and strong decentralized finance (DeFi) ecosystem might make it an ideal choice for additional partnerships.
Throughout this last year, the value locked in Solana’s network has multiplied 5x, now sitting at $8.8 billion. As of December 2024, SOL is trading at around $226, according to Coin Gecko.
The ecosystem continues to expand at a high pace, and from a technical standpoint, the future looks bright.
Changelly analysts forecast Solana valued at $500 by the end of Q2 in 2025, but it would require a perfect storm of circumstances for it to cross $1,000 by the end of 2025. At the same time, analysts like Matthew Sigel believe SOL could reach $3,000 by 2030.
Based on this data, a $500 year-end price for Solana looks reasonable – but for $1,000, it will need a lot more help than just Bitcoin’s domino push.
PlutoChain ($PLUTO) Is a Hybrid Layer-2 Solution That Could Add More Functionalities to Bitcoin’s Ecosystem
PlutoChain ($PLUTO) could add more functionality to blockchain networks with a potential direct connection between Bitcoin and Ethereum.
Because it works as a hybrid Layer-2 solution, it has the potential to expand what blockchain technology can do and make it more efficient and user-friendly.
The project uses advanced tools to potentially speed up transactions and cut costs. These include systems like sidechains and blockchain rollups that process activity away from the main blockchain. This setup reduces the load on Bitcoin’s network and makes it faster and cheaper to use.
PlutoChain could also lower fees to potentially attract more early adopters and developers, especially during times when other networks, like Ethereum, experience fee spikes due to high demand.
Layer-2 solutions like PlutoChain could generally solve key problems in blockchain.
Firstly, they handle more transactions at once, reduce delays, and ensure smoother operations. These systems also save money by moving transactions to separate layers instead of the main blockchain.
For end users, this means faster payments at a lower cost. PlutoChain could also allow different blockchains to work together, so developers can create apps that tap into multiple systems without compatibility issues.
One feature that sets PlutoChain apart is its support for Ethereum-based applications. Developers can create apps for Ethereum while also getting benefits from Bitcoin’s security protocols. This could help Bitcoin take a larger role in decentralized finance (DeFi), an area where it has lagged behind other networks.
PlutoChain doesn’t just focus on performance – it also prioritizes security.
The platform has passed audits by well-known firms like SolidProof and Assure DeFi.
On top of this, PlutoChain gives its early adopters a voice. They can vote on major decisions, like new features or partnerships, so they can participate and shape the project’s direction.
Many outlets expect Solana to continue its rally – but a $1,000 might be a bit too ambitious right now.
At the same time, there are other projects like PlutoChain ($PLUTO) that could gain traction after the mainnet launch. With its hybrid Layer-2 blockchain, it could expand Bitcoin’s reach and case uses.
This project could also solve Bitcoin’s problems like high costs and limited compatibility, so it could become a useful tool for both everyday users and developers.
Visit the links below to learn more about PlutoChain and its unique features:
Official Website: https://plutochain.io
X/Twitter Page: https://x.com/plutochain/
Telegram Channel: https://t.me/PlutoChainAnnouncements/
This article is purely informational and should not be interpreted as financial advice. Readers are encouraged to carry out their own due diligence. Predictions involve risk and may not undergo updates.
