Airdrop Army

Solana’s (SOL) price surged by 4.5% in the past 24 hours, reaching $158.65 on Sept. 27. This move rides the wave of a broader crypto rally, sparked by loosened global monetary policies. And it’s not just central bank easing that’s pushing Solana up; a new bullish report from VanEck is fanning the flames even higher.

VanEck’s Bold Forecast Puts SOL in the Spotlight

VanEck’s Sept. 25 report forecasts Solana’s price could hit a staggering $330 soon, claiming SOL might grab 50% of Ethereum’s current market cap. This isn’t just wishful thinking. The report highlights Solana’s technical edge, citing how its blockchain processes thousands of transactions per second (TPS) — smoking Ethereum by a mind-bending 3,000%. Solana’s speed makes it a powerhouse, especially for high-volume uses like payments and remittances where speed is the name of the game.

And it’s not just about speed. Solana’s daily active users are outpacing Ethereum by 1,300%, and transaction fees are dirt cheap — like 5 million percent cheaper. All this puts Solana in prime position for DeFi adoption, and investors have taken notice, sending SOL’s price up 7.5% since the VanEck report dropped.

Easing Monetary Policies Fuel Risk-On Sentiment

It’s no coincidence that Solana’s price action aligns with central banks loosening their grips. The U.S. Federal Reserve cut rates by 0.5%, bringing its target range down to 4.75%-5%, while Europe’s ECB followed suit with more relaxed policies. Meanwhile, the People’s Bank of China (PBoC) slashed reserve requirements, pumping liquidity into the system.

When rates go down, borrowing gets cheaper, liquidity improves, and investors start chasing yield in riskier assets — like crypto. Solana, being at the forefront of the market right now, is reaping the benefits of this risk-on environment.

Breaking Out of the Accumulation Zone

Solana’s run-up isn’t just a flash in the pan. Its price has been in a rebound since Sept. 5, after dipping into its accumulation zone between $113 and $125. Buyers stepped in hard at that level, preventing any deeper crash, and the result has been sustained upward momentum.

Breaking above the black downtrend line — a level of resistance since Solana’s March peak near $205 — on Sept. 26, SOL is continuing its breakout. With SOL currently above the critical 0.382 Fibonacci level at $155.70, bulls are eyeing the next stops: $165.23 and $174.75. If Solana can hold above these levels, the rally could stretch even further.