Man Willing to Stake $1M That Solana Will Not Hit $600 By 2025

An X user named Evans made a bold bet on November 8th that SOL, the native coin for the layer-1 Solana network, would not attain a trading price of $600 by the end of 2025. He also expressed willingness to stake a minimum of $1 million to back the bet. This speculation defies other price projections from industry leaders.

Willing to bet anyone that SOL doesn’t hit $600 by December 31, 2025

$1,000,000 minimum

— Evanss6 (@Evan_ss6) November 8, 2024

Will SOL Stay Below $600?

Comments from some X users indicated that Evans’ bet was risky. Others stressed that the staked amount was too high, and if Evans agreed to $100,000 or less, they would join the bet. Evans stated that the popular crypto figure Cobie (Jordan Fish) will escrow the bettors’ money throughout next year.

Notably, Evans’ bet that SOL would stay below $600 disagrees with the popular opinion of market experts regarding the coin’s future price movement.

Bullish SOL Price Predictions

Last month, Geoffrey Kendrick, a top executive at the British multinational bank Standard Chartered, projected that SOL would see a 5x increase to as high as $700 by next year’s ending if Donald Trump wins the United States election. With Trump’s recent win, Kendrick’s prediction may hold water.

In June, the market maker GSR Markets speculated that SOL could soar as high as $1,290, representing over an 8.9x increase from its price at the time. The firm believes this price will come to fruition if the United States Securities and Exchange Commission (SEC) endorses the spot Solana exchange-traded fund (ETF), an investment vehicle that exposes traditional investors to Solana’s native coin.

With Trump’s latest election victory, the crypto community expects a leadership change for the SEC as its current chair, Gary Gensler, held a hostile outlook on the crypto market. Market experts expect a crypto-friendly chair to be appointed. If this occurs, ETF products in the pipeline, such as the spot Solana product, will likely be approved, paving the way for massive institutional SOL adoption.

Meanwhile, SOL’s value exchanged hands with $200 at press time, representing nearly a 6% surge in the past 24 hours.