Solana (CRYPTO: SOL) rallied sharply alongside the broader market on Wednesday, but cryptocurrency bettors are not going overboard with lofty expectations for the year.
SOL Set To Enter Record Territory?
The sixth-largest cryptocurrency by market capitalization jumped over 7% in the last 24 hours, erasing losses from the last week.
SOL's trading volume spiked 28% to $9 billion, making it one of the most transacted cryptocurrencies in the last 24 hours.
Widely followed cryptocurrency analyst and trader Ali Martinez highlighted that the coin completed the "bullish retest" of $210 as support and could be headed toward the record high zone of $320–$360, equating to an upside of 43%-61% from current prices.
See Also: Solana (SOL) Price Prediction: 2025, 2026, 2030
Which Way Are Prediction Markets Betting?
Prediction markets, meanwhile, were less certain that these levels would be reached this year.
Despite a marked 10 percentage point jump, Polymarket punters placed only 37% odds on SOL exceeding $310 in 2025. Similarly, the probability of the coin topping $400 was 17%.
Bettors were more certain that SOL would exceed $260, placing 77% odds on this outcome, up from 65% the day before.
Meanwhile, bookmakers on Kalshi, a federally regulated prediction site, projected a 54% likelihood of SOL hitting a new all-time high before the year-end.
Price Action: At the time of writing, SOL was exchanging hands at $223.84, up 7.29% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: LEE WA DA on Shutterstock.com
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