Bitwise Chief Funding Officer Matt Hougan says Solana worth may observe a path much like Bitcoin over time. He argues that each belongings could profit from the identical broad forces shaping the digital-value market.
Hougan outlined two key drivers behind Bitcoin’s valuation. First, the store-of-value market continues to develop as traders search for options to conventional belongings.
1/ One of the best crypto investments offer you two methods to win. A thread exploring one motive I’m so bullish on Solana.
— Matt Hougan (@Matt_Hougan) October 30, 2025
Second, Bitcoin may seize a bigger share of that market because it matures. Hougan mentioned that if the market merely doubled and Bitcoin stored its present share, its worth would doubtless rise in keeping with that growth.
If Bitcoin’s share climbed towards 50% much like gold’s standing, he believes the worth may attain about $6.5 million per coin.
He mentioned the identical logic may work for Solana. In his view, the chain now serves as a base layer for stablecoins and tokenized real-world belongings, areas he believes may develop many occasions from right here. Hougan has additionally argued that the brand new US exchange-traded merchandise may assist Solana push to contemporary highs.
Bitwise launched its spot SOL ETF on October 28 beneath the ticker BSOL. Grayscale rolled out its personal model the following day, listed as GSOL.
The components is easy:
ETF Flows + Treasury Firm + Easy Story = All-Time Highs
It labored for Bitcoin, it's working for Ethereum, and it's lined up for Solana.
Good graphic @scottmelker. https://t.co/c3Ny4PulcK
— Matt Hougan (@Matt_Hougan) August 29, 2025
The 2 funds introduced in about $154 million of their first classes. Collectively, they now handle roughly $439 million in SOL publicity, or about 0.4% of the token’s circulating provide.
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Solana Value Prediction: Is SOL Exhibiting Bullish Value Motion Above Key Help Ranges?
Knowledge from DeFiLlama reveals the community dealt with about 55–60 million transactions per day, an indication that customers proceed to maneuver funds and work together with apps at scale.
(Supply: DeFiLlama)
The variety of addresses that had been energetic within the final day was roughly 2.0-2.9 million, which signifies that individuals are not occupied with a burst of actions, however in constant ones.
The amount of the DEX was roughly 3.9 billion daily, and the overall for the seven days amounted to roughly 28-31 billion. That signifies glorious liquidity ranges and continued engagement throughout the buying and selling ecosystem of Solana.
CoinGlass information reveals SOL’s open curiosity in derivatives sitting close to $9.37 billion.
(Supply: Coinglass)
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Spot buying and selling over the previous day reached about $690.65 million, whereas futures quantity got here in round $11.05 billion. SOL is buying and selling round one of many important help ranges, and the worth motion signifies secure purchases.
One of many analysts supplied a chart that reveals that consumers have intervened a number of occasions throughout the vary of about $260-$270. Any check of this zone has signaled a bounce, indicating that dip-buyers are nonetheless at job and are prepared to guard the extent.
Value motion has turned regular once more. The token is buying and selling above short-term pattern ranges, together with the rising 20-day shifting common, which has begun to show up.
(Supply: X)
Current candles present greater lows by way of the week, an indication that consumers are stepping again in. Buying and selling exercise has additionally evened out after the pullback, suggesting sellers are dropping their grip.
The following hurdle sits close to $295. The chart reveals a number of makes an attempt to maneuver previous this zone, however every push has been rejected. A clear break and shut above that degree would level to additional power.
The analyst says a transfer by way of $295 opens the door towards $400, near an earlier provide pocket round $390–$410, the place worth stalled earlier this 12 months.
RSI is climbing from mid-range, leaving room for worth to stretch earlier than it hits overheated ranges. If the pattern breaks down, help round $250–$255 may act as a security internet. For now, the construction nonetheless leans greater.
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