Solana Set to Surge in Q3 2023: AI Predicts 50%-70% Growth

• Solana [SOL] recently announced its integration with Shopify to allow merchants and entrepreneurs to leverage WEB3 payments.
• Following news of Ripple [XRP] securing a partial victory in its legal battle with the U.S. Securities and Exchange Commission (SEC), SOL’s price rose nearly 30%.
• Heading into 2023, SOL was hovering around the $10 support zone but then benefited massively from Bitcoin [BTC] climbing past $17k and recording gains of 175% in 21 days.

Solana’s Integration With Shopify

Solana [SOL] recently announced its integration with Shopify to allow merchants and entrepreneurs to leverage WEB3 payments. This will allow them to bypass transaction fees and third-party payment processing. SOL’s price fell nearly 8% within the last seven days after the announcement.

Ripple Secures Partial Victory

Following news of Ripple [XRP] securing a partial victory in its legal battle with the U.S. Securities and Exchange Commission (SEC) on 13 July, SOL’s price rose nearly 30%. The U.S. District Court of the Southern District of New York ruled in its judgement that the sale of Ripple’s XRP tokens on crypto exchanges and though programmatic sales did not constitute investment contracts; hence, it is not a security in this case. But the court also ruled that the institutional sale of the XRP tokens violated federal securities laws. The crypto industry has lapped up this judgement instantly, generating a price rally across tokens .

Solana Price Performance

Heading into 2023, SOL was hovering around the $10 support zone as it was already in downtrend since November 2021 when it was trading at $200. Just as investors began anticipating further losses across the crypto-market in January, Bitcoin [BTC] climbed past $17k and shifted sentiment towards bullish which resulted in Solana benefiting massively from this shift recording gains of 175% within 21 days however it could not breach resistance at $26-$28 .

Ethereum As Layer-2 For Solana Blockchain?

Even as SOL is touted to be the “Ethereum [ETH] killer,” Solana Labs co-founder Anatoly Yakovenko seems to be in agreement with using Ethereum as a layer-2 for Solana blockchain . Even Ethereum founder Vitalik Buterin is an admirer of Solana protocol expressing his disappointment on SEC targeting projects like solan when they sued Binance[BNB] and Coinbase[COIN].

Price Prediction

ChatGPT predicted a rise between 50%-70% for Solana this quarter; however readers should note that this prediction does not constitute financial advice or investment advice .