Key Insights:
- Solana stablecoin supply surged 77.5%, hitting $10.83 Billion this week.
- Solana’s total value locked (TVL) rose 800% to $11.98 Billion.
- Analysts project Solana’s price could hit $1,000 this year.
Solana (SOL) has set a new record in stablecoin supply, surpassing $10 Billion. This achievement, alongside rising total value locked (TVL) and growing developer activity, has raised discussions about the potential for Solana’s price to reach $1,000 in the coming months.
Stablecoin Supply Hits $10 Billion, TVL Surges 800%
Solana’s stablecoin supply reached an all-time high of $10.83 Billion on Jan. 24, fueled by a wave of new users and capital inflows.
This surge coincided with the launch of memecoins like Trump (TRUMP) and Melania (MELANIA) and the inauguration of Donald Trump as U.S. president.
Circle’s USDC remains the leading stablecoin within Solana, commanding 77.23% of the market share.
Simultaneously, Solana’s decentralized finance (DeFi) ecosystem recorded a staggering 800% increase in TVL over 12 months, rising from $1.3 Billion in Jan. 2024 to $11.98 Billion today.
Raydium, a decentralized exchange (DEX) on Solana, played a pivotal role in this growth, contributing $3.89 Billion to the total TVL.
In January alone, Solana onboarded nearly nine million new addresses, marking a historic high for the blockchain.
Solana’s Technical Setup Points to Further Upside
Solana (SOL) price action reflects a bullish Gartley harmonic pattern, which signals a trend continuation. After rebounding sharply from $180—the 0.815 Fibonacci retracement level—the token surged past $250, confirming bullish momentum.
Moreover, the Ichimoku Cloud indicator further supports this outlook, with SOL trading well above the cloud and its Tenkan-sen ($246.72) crossing above the Kijun-sen ($232.11).
Resistance lies at $294, Solana’s all-time high, while the 1.618 Fibonacci extension suggests a potential target at $323.94.
Breaking these levels could set the stage for further gains, with analysts like CryptoElites eyeing $450 as the next significant hurdle.
Can SOL Price Reach $1,000?
SOL recently rallied to $294, benefiting from the memecoin buzz, ETF optimism, and broader ecosystem momentum.
Analysts see parallels between Solana’s current metrics and its 2021 bull cycle, suggesting further price growth.
For example, the 93% stablecoin supply surge in Sept. 2021 preceded a 45.76% increase in SOL’s price over two months.
If Solana replicates this pattern, SOL could rise to $362 by March 2025, according to SolanaFloor.
Medium-term projections by InvestingHaven suggest Solana’s price could range between $220 and $750, with an average of $450. Their long-term outlook spans from $200 to $3,211, averaging $1,000.
Crypto analyst CryptoElites projects that SOL could reach $450 in the short term, with potential highs ranging between $678 and $1,099.
Other analysts, such as CryptoExpert101, remain optimistic about Solana’s ability to hit $1,000, citing its ease of use for retail investors and expanding ecosystem.
Long-term projections vary widely, with estimates from $200 to $3,211 depending on macroeconomic conditions, regulatory developments, and competition from other blockchains.
However, Solana’s current growth trajectory and developer momentum suggest that achieving $1,000 is within reach if these factors align.
