Solana has broken a new record: How will the price of SOL follow after the election?

Cryptocurrencies are showing a decline in line with the general market trend, and Solana has experienced a weekly loss of 8%. The altcoin, which could not sustain its upward trend towards the historical peak of 200 dollars, shows weak resistance against market volatility. However, crypto analysts continue to make positive predictions about the Solana price, and the increase in user numbers in October indicates an increase in the popularity of the Solana network.

The number of active addresses on Solana has reached a new record.

According to data from The Block platform, which includes crypto research, Solana active addresses recorded growth. Accordingly, there was a 42% growth compared to last month, and the increase in the number of active addresses during the same period also attracted the attention of investors. An increase in active addresses indicates increased network activity and user interest.

According to The Block, the growth in the number of active addresses on Solana is thought to be due to the increasing number of meme coins on the network and the rapid growth of new coins on the network. According to Pump.fun data, the platform's trading volume in the last 24 hours is currently 6.6 million. The total trading volume has reached $1.07 billion.

How could Solana be affected by the US elections?

It is believed that the recent decline in SOL price is related to current events, along with an increase in network activity. Crypto analyst Gum, who discusses how Solana will be affected if Harris or Trump wins the upcoming US elections, stated, “Regardless of what happens, SOL will rise much higher than Harris or Trump.”

According to the analyst, altcoin can test a high threshold of $500 due to the increase in macro liquidity if Trump wins. This price forecast, made entirely on the diluted valuation of Solana by @0xGumshoe, stated that if significant rise does not occur through ETFs, SOL coin will take a value close to the ETH price. He added that SOL price will strengthen with ETFs due to Trump's victory and test a new ATH.

SOL 1-day price chartAnalyst Harris reiterated his $300 target in a series of X posts if Harris wins, but advised caution, noting that more regulatory processes are expected in the market under Harris administration.

Finally, SOL is currently trading at $162 and the trading volume has increased by 34% in the last 24 hours.

The information in the text is purely for informational purposes. It does not constitute any investment advice. Yazar and kriptoparahaber.com are not responsible for any profit or loss resulting from your investments. Ultimately, investment relies on various factors such as knowledge, experience, research, and personal decisions.

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