Solana Price Surges 70% as Traders Predict All-Time High

Coin WorldThursday, May 15, 2025 4:53 am ET
2min read

Traders are increasingly optimistic about the Solana price reaching its all-time high by the end of the year, as the sentiment in the crypto industry improves. Currently, the SOL price is trading at $171.70, which means it needs to increase by over 70% to reach its previous record high of almost $300.

According to Polymarket data, many traders are predicting that the SOL token will surge and hit its all-time high this year. The odds of this happening have jumped to 47%, up from 15% on April 13, and are now at an all-time high. These odds have risen as the SOL price has rebounded in the past few weeks, moving from a low of $94 to the current $171. Historically, these odds tend to rise when a crypto token is in an uptrend and drop when it is falling.

The increase in odds is also attributed to a sense of greed sweeping the crypto market. Data shows that the crypto fear and greed index has moved to the greed zone of 71. Crypto prices normally rally when there is greed in the market. Additionally, trade fears that had spread in the market have faded. For example, the US has reached a truce with China, reducing tariffs between the two countries. The US also reached a deal with the UK last week and is negotiating with other countries, including the European Union.

Polymarket traders are also aware that Solana’s network is performing well and is outperforming other blockchain networks. For example, Solana’s network handled over 1.75 billion transactions in the last 30 days, generating over $43 million in fees. This transaction count was higher than that of other chains combined. For instance, Tron handled 251 million, while Base, Near, and BNB Chain handled 251 million, 219 million, and 174 million, respectively. Ethereum processed over 37 million transactions in the same period.

Solana has also become the biggest chain in the decentralized exchange (DEX) industry, helped by the vibrance of its meme coin ecosystem. Its 24-hour volume rose to $4.54 billion, bringing the weekly figure to $27 billion. BSC and Ethereum handled $2.97 billion and $2.71 billion in the last 24 hours, and $18.9 billion and $18.4 billion, respectively. Solana is thriving because of its meme coin ecosystem, which has continued to grow this year. All meme coins on Solana have attracted over $13 billion in valuation.

Further, the amount of stablecoins in the Solana ecosystem has jumped in the past few months, reaching a high of $13 billion earlier this month. Another catalyst for the Solana price is the potential approval of spot SOL ETFs by the Securities and Exchange Commission (SEC). That approval will likely boost its sentiment and increase demand from Wall Street investors. According to the analyst's forecast, these funds will attract at least $6 billion in inflows in the first year.

The weekly chart shows that the Solana price has formed a cup-and-handle pattern, pointing to an eventual surge in the coming months. The upper side of this cup is at $250, while its depth is about 96%. Therefore, by measuring the same distance from the cup’s upper side, we see that its price target will be at $500. The surge to its all-time high will be confirmed when the coin jumps above the key resistance level at $250.