Analysts: Solana’s smart contract market share can reach 22%

Solana’s price has recently decreased by 40%, dropping below $180. The fall followed a sudden surge, which, in turn, was driven by the publicity around the new SOL-based meme coins launched by the POTUS, Donald Trump, and the FLOTUS, Melania Trump.

The cryptocurrency’s price drop was also followed by decreased activity on decentralized platforms within the Solana network, which were the main platforms for meme coin transactions.

Moreover, the price dynamic could have been driven by market players anticipating the unlocking of 11.2 million SOL locked after the FTX exchange went bankrupt. The unlock is to take place in March 2025. Not all analysts are concerned about the upcoming Solana unlock. Some admit that investors might have more serious price goals in mind.

“The FTX estate sale of Solana tokens … attracted many new investors to SOL. We will soon learn how many of them stick around for the long term,” VanEck head of digital assets research Matthew Sigel explained.

According to VanEck investor Matt Maximo, he knew some buyers of locked SOL who were pursuing 10-fold returns while also being interested in holding the asset.

Analysts predicted that Solana’s smart contract market share could reach 15% to 22% in 2025. Do you think it is possible? Share your thoughts about SOL’s potential in the comments!