Is Solana Really Going to $600? Trader's Wild Prediction Amid $2.5B Unlock Drama!

So, a crypto trader thinks SOL is gonna hit $600 in two months. Sure, why not?
But wait, there’s a $2.5 billion unlock coming in March. Sounds like a party, right?

Look, Solana [SOL] has been the star of the show, skyrocketing from $8 to nearly $300 in just 18 months. I mean, who wouldn’t want to ride that rollercoaster? Some asset managers, like Bitwise, are even saying it could hit $750 by the end of this cycle. Yeah, because that’s totally realistic. 🙄

And now, Bob Loukas, a crypto trader who probably has a crystal ball, is throwing out a bold prediction of $600 in two months. I mean, what’s next? A prediction that it’ll rain money? 💸

“My read on $SOL, feels like pressure building and once released, could run very quickly (<8 weeks) to $600. Price action & history, economic activity, narrative, phase of cycle, all support.”

For those keeping score, Solana is now the fastest and cheapest blockchain out there, leaving Ethereum in the dust. It’s like the tortoise and the hare, but the tortoise is on steroids. And Delphi Digital thinks it could flip ETH by 2025. Sure, let’s just throw that out there. 🐢💨

Oh, and here’s a fun fact: Solana is outpacing Ethereum’s monthly stablecoin growth. So, there’s that.

Solana’s $2.5 billion unlock

But hold your horses! The Solana community might be in for a rough ride with this upcoming unlock. Between February and April, over 14 million SOL tokens are set to be released. Sounds like a great time to panic, right?

In March, 9.7 million SOL tokens worth $2.5 billion will be unleashed. And guess what? The sentiment might take a nosedive. One user chimed in,

“February is the biggest one yet, then March triples February’s unlock with $2.5B of cheaply purchased SOL finally available to sell. This is while influencers who switch conviction plays daily call for $1000 as every SOL meme relentless bleeds out.”

One of the top SOL fans, Gumshoe, echoed the same sentiment and took a jab at those ‘influencers’ calling for a $1k cycle top. He said,

“The biggest risk for the unlocks is that if we are not in a macro uptrend, $SOL will probably underperform on bounces and dumps. Unlocks or not, calling for $SOL $1K is stupid and irresponsible. It shouldn’t be taken seriously unless we talk about a multi-year timeframe (>5 years).”

But hey, the analyst also mentioned that the unlocks (2.7% of supply) will be sold gradually. So, it’s not like everyone’s going to dump their tokens at once. Or will they? 🤔

Meanwhile, whales are trimming their exposure in the Futures market. Sounds like a fun weekend ahead, right?

This is illustrated by the declining Whale vs. Retail delta (dropping green bars). Because, you know, when whales pull back, SOL’s price usually does a little dance downwards. 💃

And let’s not forget the spike in distribution, which just means that big players are cashing in on the latest jump to the $295 level. Because who doesn’t love a good profit?

2025-01-25 20:09

Is Solana Really Going to $600? Trader’s Wild Prediction Amid $2.5B Unlock Drama!

Solana’s $2.5 billion unlock

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