Ethereum & Solana Surge: Institutions & Social Sentiment Drive Price Gains
Cryptocurrencies Ethereum (ETH) and Solana (SOL) have surged in recent weeks, gaining over 12% each since early October. Positive social sentiment on platforms like X and Reddit has contributed to this momentum.
Ethereum is now targeting a cryptocurrency price of $7,900, needing to break through the $5,000 barrier to reach this goal. Its high decentralized exchange (DEX) volume and accumulation have drawn attention. Institutions are also showing increased interest in Ethereum infrastructure, with Republic Technologies partnering with Fireblocks for secure institutional Ethereum applications. Meanwhile, Solana is aiming for a new peak above $300, with a target of $400 gaining traction. Its speed and finality make it appealing to institutions, with $1.2B in stablecoin inflow signaling accumulation. NFTs on Solana are also making a comeback, with the top 8 NFTs built on Tensor up by more than 15%.
Institutional appeal, stablecoin issuance, and positive social sentiment have driven the cryptocurrency prices of ETH and SOL. As Ethereum and Solana continue to gain traction, investors are watching closely for further developments in these cryptocurrencies.
