Convergence

Solana

Momentum

Mog Coin

<ul class="wp-block-list">
 <li>Solana’s Bullish Momentum Sustains Amid Strong Social and Whale Interest.</li>
 <li>Scalability Issues, Centralization Risks Challenge Solana’s Global Backbone Viability.</li>
</ul>
Solana (SOL) has been on an upward trajectory, defying the overall “Uptober” slump that hit many altcoins. Recently, Solana reached a three-month high at $179, marking a 13% increase in the past month and a 2% rise within 24 hours, with trading volumes also up by 28%. The question remains, can this rally continue into 2025, as analysts predict.
Technical indicators currently suggest bullish momentum. The Moving Average Convergence Divergence (MACD) line shows a bullish crossover, and Solana’s Relative Strength Index (RSI) stands at 63, indicating strong buying interest without approaching overbought levels.&nbsp;
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfAbZ5WYXV8vrJ3VqgVpvrwyMZNo3tCmS5SzEgVi283rZTCcBZGVHGbI0Cr7lKuyshsm-CH0lMrJSEjg81RP08JbNbwscF-jI7P9ep8OZhkUmTDNdRSVduFsaeafBwf7oCqhJ9cZAtUo5ExwwP3CpUYloGX?key=GQqAq9NhhQKPz4QhkVgOig" alt="">
 <figcaption class="wp-element-caption">
 SOL Price Analysis, Source: Sanbase
 </figcaption>
 </figure>
</div>
Such technical trends suggest <a href="https://in.tradingview.com/symbols/SOLUSDT/" target="_blank" rel="noopener noreferrer nofollow">SOL</a> could continue to climb in the near term, boosted by the increased attention from social channels and whale investors. Notably, Solana’s social engagement has risen to 3.97%, enhancing its appeal within the crypto community.
<h3 class="wp-block-heading" id="h-snags-in-the-solana-bull-run">Snags in the Solana Bull Run</h3>
Despite Solana’s growth, analyst Ryan Berckmans raises concerns regarding the blockchain’s capacity to sustain its momentum. Berckmans highlights that Solana shifted its initial “monolithic” approach to accommodate Layer 2 (L2) solutions. Although marketed as an L1 network capable of handling vast transactions, Solana now offers “Network Extensions” akin to L2s. This shift underscores a potential limitation in it’s scalability as a global financial backbone.
A major constraint, according to Berckmans, is Solana’s dependency on a single client, Agave Rust. For a decentralized, global-scale network, three independent clients with balanced stake distribution are often recommended. It’s second client, Firedancer, faces delays due to a lack of comprehensive protocol specifications and support from the research community. Moreover, Solana’s high bandwidth requirements — 10Gbps upload speeds — could introduce centralization risks that challenge its scalability.
While it has shown resilience and growth potential, significant obstacles remain. As major corporations like <a href="https://thenewscrypto.com/coinbase-files-foia-requests-on-u-s-crypto-regulations/" target="_blank" rel="noopener noreferrer nofollow">Coinbase</a> and Visa adopt <a href="https://thenewscrypto.com/vitalik-buterin-maps-ethereums-next-phase-with-the-purge/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> L2 solutions, SOL may struggle to position itself as a global financial network. For now, its trajectory remains cautiously optimistic, though achieving a <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="noopener noreferrer nofollow">price</a> rally in 2025 may depend on overcoming these critical infrastructure and decentralization hurdles.
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