Crypto News- A prominent cryptocurrency analyst suggests that the potential of Solana (SOL) in the next bull market might be underestimated.
Solana Price Could Reach 461 Dollars if Ethereum (ETH) Exhibits These Trends in the Next Bull Cycle, According to InvestAnswers
During a recent strategy session, the host of InvestAnswers articulated his primary belief that SOL could attain 10% of Ethereum’s (ETH) market capitalization in the next market upswing.
If Ethereum were to reach a peak of $8,000 in the upcoming bull market, the analyst posits that should Solana achieve 10% of ETH’s market cap (which it has previously done), it would result in a $231 price projection for SOL.
Nonetheless, InvestAnswers speculates that SOL reaching 20% of ETH’s market cap is not entirely out of reach.
“As has always been part of my thesis, if Solana were to capture 20% of the ETH market cap, it would translate to a market capitalization of $192 billion. At current prices and token quantities, this would correspond to a price of $461, yielding a remarkable return on investment of 2,038%. Importantly, this would still constitute only about 5% of the entire cryptocurrency market cap. Hence, it’s not an implausible scenario.
What’s even more remarkable is that we previously exceeded the 10% threshold. Here is the SOL upside chart – the yellow line represents 10% of ETH’s market cap, and the blue line signifies Solana’s price surpassing that threshold back in October 2021.”
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