$250,000 and $800 by the End of 2025 – Liu

On Tuesday, notable crypto analyst Dennis Liu revised his earlier 2023 forecast for Solana (SOL), increasing his price target to $480 by the end of 2025, with a potential for even reaching $800 under optimal conditions.

This updated projection is grounded in several key metrics, particularly the supply and market capitalization of Solana. Liu also considers the overall market capitalization of the cryptocurrency sector, predicting that Bitcoin could hit a price of $250,000 by the end of 2025, leading to a total market capitalization of approximately $5 trillion.

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If Bitcoin maintains its 50% market dominance, the total market capitalization for all cryptocurrencies could reach $10 trillion. Solana’s market share has grown from 0.75% to 3% in the past year. Should this dominance remain steady, Solana’s market cap might rise to $300 billion, translating to a token price of $479. If market share increases to 5%, the price could escalate to $800.

Liu initially projected a price range of $240 to $250 for Solana but has adjusted his forecast in light of recent developments.

The rising adoption of Solana is supported by two main initiatives: the Solana Mobile Initiative and Solana Pay. Solana Mobile, active for nearly two years, introduces a mobile-focused app store designed for decentralized applications, simplifying access to cryptocurrencies and making the Phantom Wallet a popular choice among users.

Solana Pay, designed for micropayments, accommodates SOL tokens and stablecoins, and has been an essential element of Shopify for over a year.

In summary, the landscape for Solana looks promising, with Liu’s updated predictions reflecting increased optimism about both the cryptocurrency and its overall market environment.