The Solana (SOL) ecosystem witnessed a notable run this year. Despite falling down the crypto ladder, the asset recorded a yearly growth of nearly 250%. Amidst this, Solana was seen taking over a well-established network like Ethereum (ETH). Can this drive the price of SOL over the next couple of days?

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How Is Solana Faring At The Moment?

At press time, Solana was trading at $223.71 after a 2.87% drop over the past 24 hours. While the asset remained stable, it witnessed a significant plummet to its current level from a high of $233. In addition, it should be noted that SOL hit a new all-time high of $263.83 about 20 days ago. Currently, the fourth largest altcoin trades nearly 15% below this peak.

As the price of SOL tried to recover, Solana was shining among developers. According to a recent report, for the first time since 2016, the Solana ecosystem onboarded more developers in July than the Ethereum ecosystem.

This trend persisted for the remainder of the year, and as of right now, Solana has added 7,625 new developers, with Asia leading the way, compared to Ethereum’s 6,456. In addition, the Solana ecosystem has seen an 83% increase in activity from the previous year.

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Solana (SOL) Price Prediction for 2024

The community hopes SOL surges to a high of $300 before the end of 2024. But the asset seems to be moving slower than expected. According to data from CoinCodex, the altcoin will trade around $228.94 on December 15. Sadly, this is the highest level SOL will trade for that weekend and week.

The above image highlights how SOL is far from reaching $300 and reclaiming its peak of $263. The community will have to wait longer to see a drastic rise in the Solana market.

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