Solana Price Forecast: Does Solana’s Robust On-Chain Activity Indicate a Bitcoin-Like Surge in the Future?
Matt Hougan, the Chief Investment Officer at Bitwise, suggests that the price of Solana may take a trajectory akin to that of BTC in the long run. He posits that both cryptocurrencies could gain from similar overarching influences impacting the digital value sector.
Hougan identified two main factors influencing Bitcoin’s price appreciation. To start, the crypto market for store-of-value assets is expanding as investors seek alternatives to conventional investments.
1/ The most lucrative crypto investments provide you with dual advantages. Here’s a thread evaluating one reason I long-term holding a favorable outlook on Solana.
— Matt Hougan (@Matt_Hougan) October 30, 2025
Secondly, Bitcoin has the potential to secure a greater portion of that market as it evolves. Hougan mentioned that if the crypto market were to simply double and Bitcoin maintained its present share, its value would likely rise correspondingly with that growth.
Should Bitcoin’s trading market share approach 50% similar to gold’s position, he speculates the price could soar to nearly $6.5 million per token.
He indicated that the same rationale applies to Solana. In his assessment, the platform functions as a foundational layer for stablecoins and tokenized real-world assets, sectors he believes could see significant growth moving forward. Hougan has also contended that new US exchange-traded products could propel Solana to new heights.
Bitwise introduced its spot SOL ETF on October 28 under the ticker BSOL. Grayscale followed with their own variant the following day, listed as GSOL.
The equation is straightforward:
ETF Inflows + Treasury Company + Straightforward Narrative = Ledger Highs
It has worked for Bitcoin, it’s effective for Ethereum, and it’s poised for Solana.
Great graphic @scottmelker. https://t.co/c3Ny4PulcK
— Matt Hougan (@Matt_Hougan) August 29, 2025
The two funds garnered around $154 million during their initial sessions. Collectively, they currently manage about $439 million in SOL exposure, equating to approximately 0.4% of the token’s supply.
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Solana Price Forecast: Is SOL Exhibiting Bullish Momentum Above Critical Support Levels?
According to data from DeFiLlama, the network processed about 55–60 million transactions per day, indicating that users persist in transferring funds and engaging with applications on a large scale.
(Source: DeFiLlama)
The count of active addresses over the last 24 hours was around 2.0-2.9 million, suggesting that users prefer steady engagement rather than sporadic activities.
The daily DEX volume reached approximately $3.9 billion, totaling around $28-31 billion over the week. This reflects robust available volume levels and ongoing participation within Solana’s trading ecosystem.
Data from CoinGlass indicates that SOL’s open interest in derivatives is hovering near $9.37 billion.
(Source: Coinglass)
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In the previous day, spot trading surged to around $690.65 million, with futures volume nearing $11.05 billion. SOL is trading near significant support levels, and the price trajectory suggests consistent buying activity.
An analyst presented a chart indicating that buyers have intervened multiple times in the range of approximately $260-$270. Any approach to this zone has typically resulted in a rebound, demonstrating that dip-buyers remain actively engaged to defend the level.
Price movement has stabilized once more. The token is trading above short-term trendlines, including the ascending 20-day moving average, which has begun an upward shift.
(Source: X)
Recent candlestick patterns indicate higher lows throughout the week, suggesting renewed interest from buyers. Trading activity has also normalized after the recent pullback, indicating that sellers are losing their dominance.
The next significant resistance level is near $295. The chart reveals several attempts to surpass this area, but every effort has been thwarted. A decisive breakthrough and closure above that level would point toward additional strength.
The analyst notes that a movement beyond $295 could pave the way towards $400, close to a previous supply cluster around $390–$410, where the price encountered barrier level earlier this year.
The RSI is climbing from a mid-range position, allowing for potential price expansion before reaching overbought conditions. If the trend falters, base level near $250–$255 could serve as a buffer. Presently, the overall sentiment remains bullish.
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The article Solana Price Prediction: Is Solana’s Strong On-Chain Activity Indicating a Bitcoin-Like Breakout Ahead? first appeared on 99Bitcoins.
