Solana (SOL) is the altcoin of the moment and has become a hot topic amongst crypto traders. It has already risen 300% in 60 days and is now at $186.86. But after a 12.98% dip in the past month, what’s next? Can Solana get back to its bullish ways and hit $500, or is this the start of a bigger correction?

As Solana navigates these turbulent waters, other altcoins like Cardano (ADA), Tron (TRX), and Ethena (ENA) are emerging as strong contenders for investors looking to ride the next wave of growth. Let’s take a look at the prospects for the hottest alt coins.

Solana (SOL): Can Bulls Push SOL To $285?

Solana’s 300% price increase in 60 days is impressive, especially considering the broader market volatility. The cryptocurrency market has been turbulent, mostly due to Bitcoin (BTC) price fluctuations which are affecting all altcoins. But Solana has managed to stay in the top-tier altcoins thanks to its ability to steal market share from Ethereum users with low fees and fast transactions.

But Solana’s journey hasn’t been smooth. As of January 12, 2025, Solana’s price dropped to below $190.0 down 12% in 4 days, during a bigger market correction. This drop coincided with Bitcoin testing the $92,000 support. The decline was further exacerbated by big whale activity, one whale unstaked and transferred a large amount of SOL to Binance. This could be profit-taking after a strong 2024 run.

Solana 3-month chart.Source: Bravenewcoin

Whale activity is often a big factor in Solana’s price movement. A look at the on-chain data shows that big investors who control a large portion of Solana’s circulating supply are moving their positions. Over the past week, the number of whale addresses holding 10,000+ SOL increased from 5,025 to 5,098, a sign of a potential rebound in investor confidence.

Institutional Interest And ETF Approval

Institutional interest in Solana has been growing, and the approval of a Solana ETF in 2025 will likely trigger a new buying wave. An ETF would allow traditional investors to get into Solana without going through crypto exchanges, making it more accessible to mainstream investors. Although the timeline for ETF approval is unclear, it is almost certain to happen under the crypto-friendly Trump administration. Experts agree that this will be a big deal for Solana’s price and could push it to $500.

A top analyst from Crypto General is very bullish on Solana. He wrote that Solana is going through a healthy correction after a big run, which is setting up for a big rally. He expects a surge in market sentiment due to broader economic conditions and key events. His price prediction is for Solana to hit $285 soon.

Altcoins To Rally With Solana

Solana is back on its feet and some altcoins are starting to move too. Analysts are watching projects like Cardano (ADA), Ethereum (ETH), EOS, and Ethena (ENA) to follow Solana’s recovery.

Cardano (ADA): ADA To Break $2 Soon

Cardano (ADA) has broken $1 and our price prediction is ADA to hit $2 soon. Despite headwinds, Cardano is still developing, and DeFi adoption is growing. Strong fundamentals and scalability make it a contender for future growth.

ADA monthly price chart.Source: Bravenewcoin

Cardano is making steady development progress, with CIP-113 set to enhance programmable assets and security features. This has given investors confidence and will drive ADA in DeFi.

According to Coinglass, Binance traders show strong bullish sentiment for ADA, with 79% holding long positions. The ADAUSDT long/short ratio stands at 3.75, while open interest has risen by 9.89% in the last 24 hours. Bulls have over-leveraged $22.4 million in long positions at $0.908, while short sellers hold $3.87 million in positions at $1.02. This data highlights the market’s confidence in ADA’s upward momentum.

Looking forward to US crypto regulations and Cardano’s scalability with the Hydra upgrade, it’s a good environment for ADA to grow. These will bring more users to Cardano’s platform, more transactions, and more value to the token.

ADA is projected to be between $5.0 and $10.0 by 2025. On the upside, $2.11 is the near-term resistance. Break above this, and we can see bullish momentum again.

Tron (TRX): TRX To Hit $0.40 Mark

Founded by the energetic Justin Sun, Tron has found its place in the decentralized finance (DeFi) space. Known for high transaction throughput and low fees, Tron is the go-to platform for developers to innovate in the blockchain space. The TRX token that powers this ecosystem has been growing consistently and is a focus for DeFi investors.

The TRON network has earned $330 million, a 39.7% increase from last month. The 90-day total revenue is $764.11 million. This is a big increase in network activity and a healthy ecosystem. TRX is a good investment.

The TRX token has risen to $0.27, a 3.85% increase. Analysts expect this trend to continue, and some are projecting TRX to be at $0.40 soon. Dave Crypto even said TRX can go to $10 in the long term. If TRX reaches $0.40, a $1,000 investment now can give you over $500 returns, a good opportunity to trade.

Ethena (ENA): 20-30% Increase

Ethena ($ENA) is one of the top-performing projects in DeFi. Recently, Grayscale Research listed ENA as one of the top 20 cryptos for Q1 2025. This is a big endorsement from the institution and a sign of growing credibility.

Focusing on blockchain scalability and stablecoin issuance, Ethena is a utility project and a good choice for investors looking for innovation in the long term.

From a technical perspective, Ethena is testing a major support level, which, if held, can trigger a major bounce. With positive market sentiment, increasing trading volume, and institutional backing, Ethena may be about to rally big.

Experts expect a 20-30% increase in the near term, and some even project it to be one of the top altcoins in 2025. Ethena’s upcoming protocol upgrades and strategic partnerships can be a big catalyst for growth.

President Trump’s World Liberty Financial DeFi project has invested in Ethena; that’s a big credibility boost and shows real institutional backing. Ethena’s stablecoin protocol expansion is another factor that can drive its growth in 2025, making it a top pick for DeFi investors.

Conclusion

In summary, Solana is volatile in the short term, but it is looking strong in the long term. Whale activity, institutional interest, and a Solana ETF approval will drive the price up in 2025 under a crypto-friendly Trump administration. Along with Solana, Cardano, TRX, and Ethena should be strong altcoin runners. Traders and investors should watch key levels and the market for decisions.