Crypto analyst predicts major Ethereum (ETH) Rival ratio of 825% due to rapid adoption
A prominent crypto analyst is predicting an exponential rally for one of Ethereum's (ETH) biggest competitors.
The Anonymous InvestAnswers host told his above 400,000 YouTube subscribers that the rapid adoption of the Solana smart contract platform could be the fuel that powers SOL back to its all-time high of 259,5 dollars.
"I think Solana trades at less than 1/16th of Ethereum's market cap, but widely accepted and heavily traded, I think it's an incredible value and I think it will go." to at least 20% of the market capitalization of the ETH market in the very near future.
And when the market recovers, I think Bitcoin (BTC) will recover first, Ethereum second, and then when these things work, the money will be moved from the brokers to those that are not running. And that would be Solana, and then that could go very high and that would be 825% profit. So you basically only get 3x more money investing in Solana than in Ethereum, but the risk is higher. And that is where we are.
Does he have any chance of retrieving all-time highs of $260 or more? The answer is, I think so. If they keep running, if they come out of mainnet beta, if they don't get shut down anymore, if they solve all their problems, then adoption will continue. But there is competition. And we have new names that suck the oxygen out of the room like Aptos (APT), which I think was part of the cause of the weakness in grade 1 last week, the so-called 'SUN killer'. "
At the time of writing, Solana is trading at $29.12.
Oct 25, 2022