"SOL investors must be happy, right? Yes, the price keeps going up."
Ethereum (ETH) Layer-1 competitor, Solana (SOL) is currently seeing a significant rise as the price of the cryptocurrency finally managed to break through $26 from $23 on October 19 yesterday.
Through observation, SOL is able to rise further as there is still a strong sentiment of price increase, then its tendency towards higher values has caused the momentum to increase.
If the buying pressure continues to increase, there is the potential for the SOL price to jump by 20% and continue its surge up to $30 or even reach its July 12, 2023 high of $32.
Most altcoins have now seen a significant rise following the positive reaction by SOL plus recently the Securities and Exchange Commission (SEC) decided to drop all charges against Ripple executives.
According to Executive Chairman Chris Larsen, his team from the beginning has been ready to protect itself from the actions of the SEC who often want to manipulate the rules to block the crypto market in the United States (US).
The string, the case between Ripple and the SEC not only gives greater hope to the entire crypto project but is able to push the SEC to provide more regulatory clarity on crypto.
As of this writing, SOL price has surged by 13.07% to $26.95 in the last 24 hours with a market cap of $11 billion and is up 26.15% over the past week.
