Investors in Solana (SOL) are closely watching its $1000 target price, but to achieve this, its market cap needs to approach $500 billion, which is essentially the current valuation of Ethereum. SOL is currently trading at around $83, and its prospects depend on key upgrades such as the launch of Firedancer to improve network reliability and throughput, as well as broader institutional adoption. The outcome of the scaling competition between SOL and Ethereum layer 2 solutions will be a key factor in determining whether this ambitious goal can be realized.