Solana (SOL) has climbed nearly 30% over the past month and is aiming to reclaim its early 2025 all-time high.
The rally adds weight to Bitwise Chief Investment Officer Matt Hougan’s prediction that the crypto asset could be gearing up for an explosive end-of-year rally, as he believes that all the right “ingredients “are falling into place for a repeat of the same playbook that drove Bitcoin and Ethereum to massive gains.
Solana’s End-of-Year Rally
In the latest report, Hougan argued that the “recipe” over the last 18 months has been simple: strong demand from exchange-traded products (ETPs) and corporate treasury purchases consistently outstripping new token issuance, creating powerful supply-and-demand imbalances.
Bitcoin saw this play out from $40,000 in early 2024 to over $115,000 today, while Ethereum tripled in price after institutions began piling in earlier this year. Solana, he contends, is…
