A popular crypto analyst is predicting an exponential rally for one of Ethereum’s (ETH) biggest competitors.
The anonymous host of InvestAnswers tells his 444,000 YouTube subscribers that the rapid adoption of smart contract platform Solana could be the fuel that sends SOL back to its all-time high of $259.65.
[adinserter block="1"]“I believe considering that Solana trades at less than 1/16th of the market cap of Ethereum, but it’s as widely adopted and does a lot of transactions, I think it’s a screaming value, and I do believe it’ll at least go to 20% of ETH’s market cap in the very near future.
And as the market rebounds, I believe Bitcoin (BTC) will rebound first, Ethereum second, and then once these things run, the money will transfer from the runners to the ones that haven’t run yet. And that’ll be Solana ,and then that could go very high and that would be 825% return. So basically you’re only making 3X the money investing in Solana than you are with Ethereum, but it’s riskier. And that’s where we are.
Does it have a chance of going back to its all-time high of $260-plus? The answer is, I believe so. If they continue to execute, if they get out of mainnet beta, if they have no more outages, solve all their problems, the adoption should continue. But there is competition. And we do have new names sucking the oxygen out of the room like Aptos (APT), which I believe is part of the reason for the weakness in the layer-1s last week, the so-called ‘SOL killer.’”
At time of writing, Solana is trading hands at $28.38.
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