Pseudonymous cryptocurrency trader Smart Contracter says one red-hot altcoin is poised to continue its meteoric ascent and become the fourth-largest crypto asset by market cap.
Smart Contracter, who correctly predicted Bitcoin’s bottom in 2018, tells his 161,000 Twitter followers that Solana’s market capitalization is destined to exceed that of Binance Coin (BNB).
[adinserter block="1"]Currently, the fourth-placed Binance Coin boasts a market cap of nearly $75 billion while the seventh-placed Solana has a market cap of about $43 billion, according to CoinGecko.
“SOL flipping BNB is a matter of when, not if.”
The widely-followed trader references a tweet that he posted last month where Solana was exhibiting the “same vibes, same narrative” as Binance Coin. If Solana were to follow BNB’s trajectory, he highlighted that it would first surge to around $240 before correcting by around 40%, and then resume rallying.
To overtake Binance Coin, Solana, which is currently trading at $149.75, will need to ignite an 80% rally to $270 while BNB stays stagnant.
For now, Smart Contracter says that the “path of least resistance” for Solana is up.
“SOL easily going to $200 [in my opinion], probably higher.
This really does feel like an easy set and forget long-term play, path of least resistance is up.”
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
[adinserter block="1"]
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Sergey Nivens
