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Expanding ecosystem and $1.86B futures open interest back Solana’s $250 target -Breaking

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The (SOL), price is facing resistance at its highest level again. However, solid fundamentals as well as the remarkable growth of DeFi and NFT are expected to propel altcoin past $250 by year’s end.

Chart for SOL/USDT 1 day. TradingView

Institutional investor interest is likely a key factor behind Solana’s impressive 490% gain since August. SOL, for example, is the fourth-largest Bitwise 10 Crypto Index Fund ($BITW), which is an $1.3 billion over-the counter tradable instrument.

Solana futures open interest aggregate Source: Bybt.com
In USD, total value locked (TVL). Source: Defillama.com
VORTECS™ score vs. SOL price (white). Source: Cointelegraph Markets Pro